I thought Inception was great, but just a hair shy of excellent. Definitely intelligent, well thought out, beautiful, with great music and a strong personal challenge as well as the kind-of-standard-but-still-engaging reverse-heist plot. I loved the intercutting levels and setting up all the timed kicks, and unlike some reviewers both here and among critics, I thought the action scenes were above average and not confusing (though the one snow humvee was a little underwhelming for an "army", the rest of the sequence was fun), and while there was a lot of exposition, I think it was done well and felt that it was just part of the atmosphere of the puzzle of the movie. There were enough visual examples to keep it interesting, and I think that a word puzzle can be as interesting as a visual puzzle even in a movie.
The one thing I was looking forward to as they initially described it was the intricately designed maze in the arctic fortress. There were endless possibilities for the action in there, but unfortunately it was circumvented by the "ventilation system" alteration. Tom Hardy's character must have read "Pete's Evil Overlord list".
I also liked how the ending was slightly ambiguous, kind of left to the viewer to decide, but I think they were in the real world. I think the slightly dream quality to the final scenes (once they wake up on the plane) with the stronger music cues was meant to make the audience think they weren't really out.
I am still puzzling over some of the details but in a good way. Everyone I saw it with enjoyed it, and it received a small round of applause at the end. I would like to see it again and will be recommending it to everyone.