I went into this movie scared because the first one was so horrendous. Fortunately I was wrong. I thought it was 10x better then the original and I would absolutely go see it again. I'm not sure if it was because of change of director or perhaps the actors took some classes but it lived up the expectations I had for it. I have read all four books and I have to say it stayed pretty close to the book, well as close as a movie can without becoming a book on tape.
I went into the movie knowing that yes it is low budget, yes you can't completely take every aspect of a book and accurately portray it on screen. However, it coulda been done better - Kristen Stewart tries so hard to be deep that her emotions looks strained and fake, Robert Pattison was over the top on emotion - half the time the poor guy looks like he needs an enema.
Even if I took out the acting problems I have with pretty much the whole cast - it was still bad. The entire movie moved TOO fast and most of it was out of sequence. Plus they added thing that were absurd, I mean come on, since when would Edward ever put Bella on his back and climb up a ridiculously high tree or push her down on the bed to kiss her??