Rewatched Jun 13, 2012
Not nearly as bad as its reputation says, but nowhere near even remotely good as it's two predecessors. I think that's what really hurts this one as it just doesn't compare. The characters are also pretty hard to sympathize with as is the bleak overall nature of the film - this is one depressing film to get through.
It definitely has some good scenes, is well shot and ballsy as hell...however, it is also repetitive, incoherent and really silly in some places. Even the cool "alien cam" which looks to be shot with a fish-eye lens is WAY overused.
Overall, not as terrible as everybody says, but definitely nothing great.