I saw it in IMAX and normal theaters, and I have to say that in terms of how it looks, it's best to see it in a normal theater. IMAX was just a waste of money for me since the movie consists mostly of close ups of Kristen Stewart's imperfect skin and horrible makeup, Robert Pattinson's stubble, and Taylor Lautner's nipples. The only person whose makeup was done well was Nikki Reed. She looked really gorgeous in the movie, minus the contacts.
As far as sequencing goes, the movie would confuse anyone who didn't read the book. They put a lot of important scenes in the wrong places, so sometimes, it really just didn't make sense. That said, the movie is not a standalone movie. If you have to have read the book to get the movie, it's not a well made movie.
I'm glad that the last two directors (New Moon and Eclipse) decided to make it more cheesy and lame rather than make it super serious all the time because the entire concept is laughable, and that needs to be included. Catherine Hardwicke was the worst person to have direct Twilight because she sucks anyway, and she made everything way too serious.
The screen writer should be black listed. Taylor Lautner can't act, and his voice is annoying, so he really shouldn't be given so many lines, especially ones that are only effective if done correctly, which he can't give us. All of the dialogue was pretty stupid.
Kristen Stewart improved her acting a little bit. I like that in the movie Bella takes more of an independent stance on things rather than yielding to every little whim of Edward's or Jacob's, but at the same time, they included all the guilt tripping she does to herself.
Dakota Fanning just doesn't work for me in these movies. She doesn't deliver her lines the way I think she should, but she's fine in any other movie.
I like that we got a visual of Rosalie's human experience, but they left out the most important part of her story: she wanted babies. That leads directly into Breaking Dawn, so that should have been addressed more clearly.
Overall: TERRIBLY EXECUTED MOVIE.