Not quite as good as the Korean film, which I was never totally in love with. The gap between the two isn't as big as most seem to believe.
The story is ridiculous, yes, but the story was ALWAYS ridiculous. Now the film is in English, it seems less alien, and so the silliness is more apparent.
I'm not sure who Spike Lee thought he was toning down the content for, in the few places where he did. No one in America was ever going to watch it anyway.