Horrible music!

Meh. It's not as good as the Gable version and the Brando version

I think the score is one of the best things about the film. It dates it, sure, but I love Vangelis's soaring themes to go with love, adventure, desperation, and tension. His best music I think has to do with the ship leaving port (a wonderfully triumphant and pleasant melody) and the ship trying to go around the horn in the storm (really captures the "anger" of the sea"). The only part where I feel the music is not very good is during the mutiny itself as it's a very chaotic track without any melody whatsoever, sounding a little too random like various keys on a synthesizer getting mashed.

Similarly, I feel the score for 1492 Conquest of Paradise is an excellent score (though that film itself is much weaker). The best track he composed for it wasn't even used in the movie but you can find it on youtube, "Nina Pinta Santa Maria Into Eternity").

Personally I love most of Vangelis's music in general and think it fits period films very well (also see ALEXANDER, an otherwise sadly dull movie). I think he blows the socks off of similar work by his rivals like Jean-Michel Jarre and Tangerine Dream (though they did a lot of great work as well).