My feelings were mixed during it, but mostly I really, really liked it.

I think it was the best that it could be. IMHO, although the characters are mostly the same, the Shrek world really expands here, with SO many
new characters, settings, and places. Wow!!

Shrek also gets "in touch with his feelings" a lot in this film, and although I'm not THAT crazy about that aspect of the film (Shrek's grumpiness is his charm) Mike Meyers did a great job with the character once again.
Highlights: I was
so sure Justin Timberlake would be "so-so" or "just OK" but he was actually quite good as Artie, believe it or not. The whole Shrek/Artie "father" issues thing--I was expecting it to be overly sentimental and repetitive, but was actually done quite well. Also, to my shock Timberlake was actually pretty funny in some parts--yeah, it's hard to believe I know.
Shrek's anxiety over being a dad....sounded very lame when I heard about it, (which was one reason I really worried about this film) but once again, handled very well. Very sweet and touching, very believable even in this incredibly nuts setting of fairy tales meets Hollywood Boulevard.
Basically Shrek IS all about Hollywood, maybe not so much in the first one (although Duloc was pure Anaheim) but
Shrek 2 and
Shrek 3 definitely. Far Far away is full of phonies, weirdos, colossal egos and insecure, scheming jerks who think their looks entitle them to everything. (Like Charming) That's really the direction
Shrek has picked to go on. I think it's a good direction, as long as its handled well, and so far it seems to be.
One thing though: Fiona seems more limited as a character in every film, unfortunately. I still like her, but I REALLY liked her in Shrek 1. Not so much in 2 or 3.

The princesses--wow!!

Annoying in some parts but I guess that was the point, so funny, Disney princesses as shallow Paris-Hilton type twits. Love it!!
LOVED LOVED LOVED LOVED LOVED Merlin, pure Hollywood guru/therapist. Awesome character.
Many character driven jokes, pcr's where appropriate, and although I still love'em, Donkey and Puss's interactions were a bit repetitive of what they'd already done in 2. However, like I said, still love the characters.
Shrek himself--OK....I still like him a lot, and like I said Mike Meyers is at the top of his game here. But--he's getting way too "nice." Way too domesticated. In
Shrek 1 he did whatever suited him, at least in the beginning--of course I understand he's changed now, with Donkey as a friend, Puss, plus being married and now being a dad. BUT he needs to be less toned down and more like he was in
Shrek 1. At least a LITTLE more.
Well, these are my immediate thoughts. Even though it's not as tight or action-orientated as 1 or 2, I had a great time watching it!!!

I think a lot of the backlash from critics has to do with the fact that "well, it's the third time, enough already." I would also prefer they close it here, but I was quite worried both before
Shrek 2 and
Shrek 3 on whether or not they'd be able to successfully extend the franchise, and so far it seems to be working OK. I think that DW is aware of the "originality" aspect and for
Shrek 4, they'll proabably go off in a totally new direction, especially if Shrek is young in flashbacks and probably acting "meaner" than his toned down self in 2 and 3.