I think for various reasons people want to hate this movie, that is their right.
Anyway, I voted excellent and overall on a grading scale I would give it an A-. For me it got back to why I love Trek so much, and that is the characters. In fact, the only reason I give it an A- instead of an A+ is because I felt there should have been more of these classic character moments in the film, but the ones that were in there were excellent.
For me I can take or leave the action scenes, its not really my thing, but I understand why they were in the movie. They were done extremely well, I was on the edge of my seat most of the time. The drill platform scene especially is awesome.
As for continuity and plot holes, in my opinion any Trek fan complaining about this is highly hypocritical, as they are just about as much a Trek tradition as "redshirts" are. They did a good enough job of explaining things and in no way did it interfere with my enjoyment of the movie. In fact, the only real nitpick I would have is how its a little far-fetched that Kirk would be made a captain by the end of the movie, but again, it was not enough to ruin things for me.
In the end I immediately wanted to see more and I immediately wanted to see sequels with this cast/crew which to me is the best barometer of how well I liked a movie.