There is just an overall cheapness about the movie -- in the plot, the dialogue, the effects. It seems like a perfectly decent TV movie. The motivations for the characters outside of Wolverine never really make sense or are at least really uninteresting. Schreiber is wasted as Sabertooth. The characters with powers are neither heroes nor villains--they are mostly just idiots. Wolverine himself is more pawn than hero. I think the real problem is the script--mashing together the worst Wolverine comic book stories to make something sort of like a big-budget episode of the TV show Heroes. The effects don't hold up, partly because they are relied upon too much. Not terrible, just not good.
The problem for me comes down to this: this guy just isn't James Bond. I don't think this has much to do with Daniel Craig's acting -- it mainly has to do with the writing and the direction. A more brutal, modern-looking James Bond could be made without making the character so...pathetic.
This is not a bad movie, but it is not a James Bond movie, and it is boring for way too long when Daniel Craig is directed to put on a sad face and agonize about how awful it is to be a tool who goes around killing people. Play a good violent video game or watch one of the better old James Bond DVDs instead.