Hell yes.
Looks like stupid-but-fun entertainment. The portrayal of Watson (by, um, Jude Law) feels much closer in spirit to the ex-military man of the books, and the oft-ignored mischievous side of Holmes himself suits somebody of Downey Jr.'s exuberance. Of course, it could simply rape the hell out of everything Conan Doyle ever wrote, but I'm always up for a decent 'reimagining' as long as it's in the spirit of things.