A friend of mine beat me to the punch of seeing this movie and he likened it to the Phantom Menace. There were certainly moments of exciting typical Indiana Jones action to be had, but they were interspersed with enough moments of sheer idiocy to really make you wonder what stuff they were on and where you can get some for yourself. Granted, some better editing would have taken care of most of those. The bigger problem comes with the last 15 minutes or so of the movie. You get hints at the climax of the movie throughout, but really...just an awful premise. It's not a problem of direction (Spielberg is fantastic throughout the movie), but maybe more with the writing.
Really, 3 stars would be generous if not for Harrison Ford and Steven Spielberg. Ford's performance is easy, comfortable, like he's coming home to the role.
It's a movie worth seeing, just don't expect anything on the same level as Raiders, even though you do get a sight of the Ark again.