Just got back from seeing it.
First half: Awesome action, hilarious, great cast of characters that dominate every scene. Greatness, amazing.
Second half: Drag a lot as they try to tie up all the characters and plots. Smattering of fun moments, but lots of not so hot scenes as well. Final shootout is kind of weak, same for the ending. Not so hot.
Doesn't blow away the Expendables at all, but would make a great double feature.