My 17 year old daughter saw it at 12:01 AM the first day possible. She enjoyed it a lot and has gone again since. She has read all four books.
My husband and I saw the movie this last weekend. My husband has not read any of the books and said he thought the movie was fine. He followed what was going on.
As for me some parts were cheesy, as other have already said (like climbing the tree and Bella and Edward just laying on the grass in the meadow for to long). I did like it and was glad that I had read the books first.
Oh, my daughter fell in love with Jacob, but I thought his dad was pretty hot!