Underwhelming. Paul Thomas Anderson would have made it better.
I've seen this movie properly for the first time only last night on TV. Movie crits still applaud it. It seems as if Tarantino had made it so that he could later say, "See, I can make a *normal* movie," while the crits could always point to it as a "proof" that Tarantino is a worthy director, not just an aficionado of schlocky stuff. The movie sets up many thing correctly. The hero is good, her ally is good, so is the villain etc, but the movie just falls short to emotionally engage you.
I believe that PTA, had he been hired to direct it and work on the script, would have brought out that extra potential the story had and would have possibly turned it into another Magnolia or Boogie Nights. QT just doesn't seem to have the empathy. [SPOILERS AHEAD] For example, when Sheronda appears for the first time to pick up the cash, I was disturbed, because Ordell had been describing her as a country girl from the South. When she finally appears, she seems as either mentally disabled, or stuck in a heavy drug addiction, or maybe even both. It's so obvious Ordell keeps her as a slave. This had the potential to really make you hate Ordell. However, the movie didn't dwell too much on that idea.
The final shootout was so underwhelming. I mean, the apparent stakeout went according to the plan. There was no drama at all. The cop just came out from the back office and shot the main villain. Where's the drama in that? I regret to say that I felt a bit let down with the movie in general.