I saw the film last night, and I enjoyed it. It was a good film all on it's own, and Johnny Depp does what he does best, making Jack Sparrow an interesting character, even when he has to do all the development and story driving stuff himself.
The only issue I had is that Philip and Syrena (the priest guy and the mermaid) who were supposed to be the supporting characters replacing Will and Elisabeth didn't get as much screentime or story development as the commercials hyped them up to have. Still it's a good movie and I enjoyed it, and so did my friends.