I wanted to find out before getting tainted by other reviews. So, I trekked out into the snow to see the 12:01 3D IMAX show (I should note that before the movie, there was a disclaimer about how some of the scenes were shot in 2D, but I didn't notice the difference.) The theater audience was a respectable size given the weather. (Apparently a record breaking crowd saw the film.)
The lights dimmed. There was cheers for the Pirates 4 trailer, (to my disappointment) groans for the Thor trailer, and just general confusion and head scratching about The Eagle and Mars Needs Moms.
I guess that depends on what you are looking for.
Tron Legacy tells the story of Sam Flynn's search for his father, Kevin Flynn (the star of the original Tron), who vanished 20 years ago. Sam search brings him into the world of the Gird, a visually stunning computerized world.
Given that the Tron movies deal with the world within a world concept, in many ways you might be tempted to compare it to the Matrix or Inception. If that is your benchmark, you will be disappointed as the story has been done before and script is exposition heavy at times and there are needless characters that are introduced, but never followed up on (like that uncredited character played by Cillian Murphy that ties back pretty directly to the first movie and I thought would be a major player in this one). But, if you are looking for a fun otherworldly scifi tale that has beautiful special effects and great action, Tron Legacy will not disappoint. To put it another way, to see if I liked a movie, the criteria I set for myself when I see these midnight showings is whether I fall asleep or check my watch. I did neither during the two hour movie. The action scenes are well done, the characters fun, and the plot, while filled with logic leaps and some holes, is a good enough Macguffin to support the movie. Olivia Wilde's performance (and the costume department) has ensured that, should I ever meet her again, I will be equally incoherent and twice as blathering.
Edit: I received three emails since this went live asking if you need to see the original Tron to enjoy the sequel. You do not. In fact, in some ways, it would have been better if I didn't just see the original Tron because some things from the original film are ignored (like the character of Dumont, played by the late Barnard Hughes, who was integral to the plot of the original Tron yet not even mentioned in Tron Legacy). PS: thanks for the emails, it means someone is actually reading it :-)