It was very pretty and I think it will do what it is meant to do, bring in people who aren't trek fans. I went with non-Trek people and they said it was okay. The main thing they didn't really get was the red matter, I think their comments were along the lines of were they just meant to "buy it".
I was really disappointed in Nero, not in Bana's performance but in the amount of time they spent on him. It was a waste of Bana really, they could have had a no-name do the same thing. Nero wasn't particularly interesting...though we don't really see him die and given he was in a black hole/time hole I hope that they would bring him back and flesh him out.
The action was good. The few silence in space moments were well done. I understand why they didn't show the Fed fleet getting destroyed but it would have been nice to see the Naranda actually appear to be a super-powerful ship and smash the Fed fleet or seeing the Klingons getting smacked. It is from over a century in the future but it couldn't even destroy the Kelvin or wipe out its escaping shuttles without having it rammed down its throat.
The acting was fine and the only negative comments from the group I went with was that Pine was a jerk and that George Kirk was annoying.
I gave it an above average and in my personal movie ranking this movie would rank fifth in the list.