There's nothing really compelling about it. I've never rewatched it, though I have STID due to people here extolling Kirk's reticence to fire on Qonos. STB -- meh. First one I didn't see twice in theaters actually.
That's my biggest problem with it. Don't get me wrong, I love the movie but apart from the Enterprise destruction sequence (which is awesome and the best part of the film IMO) for the rest of the run time the movie just seems to just... get to the end without there being any real peril for everyone involved. It all just seems to slot together too neatly, and never really hits the heights of that excellent first act. The end chase through Yorktown is all well and good, and visually spectacular but, there's just a whiff off it being another generic Star Trek villian's ending about it. I just can't quite put my finger on it. It's all just a bit... lightweight.
That being said I enjoy it every bit as much as the first two and rewatch it just as often.