Saw it today. Pretty good, particularly at avoiding the "oh good lord that would be too obvious" pitfalls.
* for one thing, the guy who spends the first half hour establishing himself as The Big Bad Guy - gets defeated at the height of his power (that's not much of a spoiler, actually)...which serves him right for wearing Sauron's Ring on his head. :)
* The movie didn't go where I thought it would, after it established that Eric the awesomely stupendously accomplished hero, was seen by the giants as Eric the destroying meanie.
* FE, FI, FO, FUM... are names.
* Near the end, there's a nice bit of storytelling (not figuratively, either) which displays how the film changed into the fable we all know.
* "I want you to have adventures so you'll be a good queen." One wonders what adventures Isabelle's mother went on. (ooh, I know! her name is Gretel!)
* "There's somebody behind me, isn't there?" gets funnier each time it happens onscreen.