Entertaining and tried to be true to the book. However, it lost what Twilight had in the mystical feeling of Twilight's music and cinematography. The new director is probably to blame, because the movie felt like just another movie, not a Twilight sequel.
Still if you like the books and the story, its good.
Small points of the plot are missing which make some scenes seem silly. Example - Jacob taking off his shirt when Bella is hurt on the motorcycle seems silly, whereas in the book he had just developed those muscles "overnight" and Bella was surprised by them. By keeping the main plot points, but changing other small ones for apparently no reason, the director lost the believability and feel of the book.