I watched this last night as well, after picking it up from the same rental place LyteEdge did.
Also finding myself in agreement with his assessment: KICK ASS as a character was pretty lame, and I know that is kind of the point of the character since the first five minutes' exposition is entirely about him not being special in any way. The boy has pretty eyes and he'll probably do OK in Hollywood, but I didn't find his story compelling.
Overall, I'd say it was a little better than WANTED: Weapons of Fate, though it had a number of the same production hallmarks, and felt pretty similar. And was also based on a Millar work.
The real treat was Big Daddy and Hit Girl. Nic Cage must have been stoked to have a chance at a Batman-style character. His use of the speaking cadence of Adam West's Batman was lolworthy in a good way.

Nic Cage
Any sequence with Hit Girl will also be getting repeated views after I pick up the BluRay. Little girl is a virtuoso of violence, almost to the point of feeling bad for the 12-year-old playing the role.
Anyone read the comic? Is it worth picking up?