I'll keep this short and sweet.
It's not a bad film, but not that great either.
It commits the cardinal sin of requiring a little too much previous knowledge of the characters to be newbie friendly while altering the characters and circumstances to a degree that some purists may be annoyed. For instance, we see Arisia and she's featured quite prominently in the final battles... but I don't recall her ever being introduced by name.
Me? I wasn't annoyed. But I know quite a few Boodikka fans who won't be happy to see her transformed into a softer-featured, softer-spoken character. And this is just me personally... but I've always imagined Sinestro as being too classy to use the phrase "I own your ass."
I'd say it is worth a rental but not a purchase.