Competent but not great.
Ok these days we have to celebrate that a movie is not crap, especially one with so much money behind it.
This movie was very polite, it wrapped up the story nicely and tried to insult our intelligence as little as possible (even with the ultra dull time travel plot).
With so many characters it's easy to keep the audience entertained, but it's also easy to lose track. This movie is efficient in keeping both in check.
That's it, doesn't do anything else, it won't blow your mind in any possible way, far from it.
I guess we cannot expect every sequel to be terminator 2, but I would have enjoyed some risk taking from this movie with its action, visuals, story or directing, rather than just tiding up the place.
It's a nice Ford Focus movie for ya, nothing wrong with that, but what's the point of it other than money?