Me and the other half watched it with a couple of her friends and all four of us really liked it before going out last night.
The way the time travel element were used, the cutting of pieces of the younger first-escaped Looper affecting the older version was disturbing, but cool. It makes sense that something like that would happen. Plus the fogginess of memories described, it was almost like what happens to Gambon's character in the 2010 Who Christmas Special. To coin a phrase from Who, it was very timey whimy.
I rather enjoyed the universe created. The city, I'm guessing Kansas City was as if a Libertarian ruled America. I was also happy that nothing was really explained: the emergence of TK, the invention of time travel, those hoses coming out of the cars and the sheer shitiness of the city and the vagrant problem.
Joe, both old and young were superb characters. At points I didn't like them, but then at other points, I seriously felt for them. Although I was expecting young Joe to do something to stop himself, I didn't expect the option he choice. As for the rainmaker, with the existence of TK and the fact he wiped out whole armies on his own, I thought that maybe Cid would turn into him and it was a case of the ages old question, would you kill Hitler if you had the chance.
On the whole though, it was a character piece and Joe's story, the rest was just dressing.