I took my two daughters (ages 10 & 7) to see this movie during opening weekend and they absolutely loved it! I'm not sure whether or not it helped that they both know the story of Romeo & Juliet, but regardless, using gnomes to tell the love story was priceless...and the music was awesome as well.
I took my daughters who are 9 & 6 years old. My oldest daughter has read all of the books, and she absolutely loved the movie! I even found myself laughing quite a few times during the movie.