While not nearly as bad as some of the worst of the aforementioned, it's not nearly as good as the good ones either.  In my book it's somewhere north of the Hulk.  I say that with some regret, as the Hulk had inspired direction, a great look, and super effects. In the end, what doomed it, was a pondering, depressing  story. It was perhaps a bit too serious (and the ending betrayed the film by being hokey and tepid). The FF4 has none of the Hulks problems, but none of it's strengths either.

The effects are some of the worst I've seen in a big budget movie in years. Mr. Fantastics stretch effect was silly and obviously CGI. The Thing looked like a giant nerf ball in close-ups. Less rock and more cuddly. The Invisible Girl and the Human torch faired far better, but not by much. At the end, you're served to one of the worst frozen looks in the history of film.  And I don't say that lightly. In fact, the editing even helped the effects budget.  A rocket Launch with no launch.  A return to earth with no landing. A balled up car with only the end result.  And it goes on and on. No set-up to any effects.

The direction?  Lackluster and completely uninspired. Action scenes were muddled and (surprisingly) almost non-existent.  Many were over before they begin. Even the "bridge" scene where they first showcase their powers felt rushed and cobbled together, even though it was three times as long as any other action set piece in the film. I wish a more compentent filmmaker had directed this film.  Or, at least, one that felt comfortable with a big-budget action movie. Tim Story has said the FF4 was the sitcom of Marvel Comics.  He is completely in the wrong, and I doubt he's read an issue of it.  He needs to go back and read the early 60's comics and the 80's John Byrne comics and see that, yes, there was humor but there was also human emotion intertwined with cool quasi-science and great stories.

The Villian?  Well, let's take one of the greatest comic book villians in history and totally destory his backstory and character.  Then, make him an arrogant Donald Trump type. Next, throw in a dose of Spider-Man's Green Goblin, 4 cups of water (to dilute), stir, shake and hope for the best.  Unfortunately, we got a villian that bears no resemblance to the Dr. Doom of comic lore, and seemed less fearsome and more cartoonish. Dr. Doom was down-right silly in this film.  And that's tragic, because he rates right up there with the Joker in Comic Villiany. The ending "big" showdown lasts for something like 5 minutes and is all set-up and no tension.

That hits on my major complant of the film.  These are characters and stories that have 40+ years of backstory and they were completely and arbitrally changed many times over.  The changes didn't make them more Fantastic or even more interesting. Instead they made them mere shadows of what they could and should have been, especially Dr. Doom.  The movie versions of Spider-Man have changed some elements (one major element being organic web-shooters). However, the changes served the story well, and didn't change the fundamental characters.  FF4 does not handle this as well. In fact, if you're looking for plot-holes, tensionless action, and paper-thin characters, then this is your film.

Now, it probably sounds like I am all complants and I do have a few more. However, they are all riffs on the above.  Some may be misplaced, some may be petty, and some may be huge.  But, you'll hear no more moaning from me. Instead, I'll say I actually enjoyed the film for what it was.  They, in fact, do got one element right.  That is the bickering between Johhny and Ben Grimm.  This was handled well, and was easily the best part of the film.

Jessica Alba, though not really the classic Invisible Woman type, is easy to look at it and seems to be there mostly for the cleavage and smiles.  I guess teenage boys won't complain.  Her relationship with Mr Fantastic in the film wasn't really believable, but could have been handled worse I suppose.  They have a few nice moments scattered throughout the film. Ben Grimm was handled well, but his story was mostly glossed over in the final 15 minutes. Johhny Storm was the most like the comics (other then being much older) and was easily the most enjoyable character in the film.  In fact, his flying scenes were fun and done well.  The first time he says "Flame-On" brought a smile to my face.

There is some cute dialog, cute scenes and funny interactions throughout the film.  Honestly, not much action at all. More light comedy then anything else.  Overal, it was passable entertainment for a summer afternoon, but I don't recommend seeing it in the theaters.  I've seen much worse films that I would not even recommend seeing on free TV.  This is a step above that. Wait for video, go in with low expectations and everything will be fine.  If it happens to be on USA or TNT one day, you could do worse.