After seeing the disappointing reviews on RottenTomatoes, I was expecting something much, much worse than this. In fact, this was quite good in entertainment terms, and reminded me a lot of I, Robot, with some Matrix, Gattaca and Fahrenheit 451 influences thrown in. The main idea behind this movie is sociologically and philosophically far more interesting than I, Robot, though, and is in fact good enough to recommend this film. Plus, it has none of the stupid elements from that movie, and feels less cheesy.
Its action-to-story ratio is about 1 to 1, though, so you should watch this for a bit of fun, more than anything else. Plus, the ending has a plot hole that basically makes the whole chain of events pointless... but if you ignore that, the inevitable thematic reflexions make this a decidedly above-average action flick.
In a sentence:
A lot of action and a big plot hole, but some really cool themes and sociological depth.