As for the movie itself...it's all right, but it's pretty much a rip-off of Star Wars and Lord of the Rings. I mean, of course they're going to be similar because they all use the same archetypes: orphan farmboy of destiny, doomed wise-wizard mentor, evil all-powerful tyrant, supernatural toadying minion, strong damsel who nonetheless needs the help of a man to get her out of distress, morally ambiguous nomadic rogue. Those archetypes have been used since time immemorial and are therefore fair game, but then there were scenes that seemed to be ripped directly out of the original Star Wars trilogy. For example:
EVIL THING: *goes after Luke Skywalker/Eragon*
LUKE SKYWALKER/ERAGON: Oh no, evil things are trying to get me! I must go back and save my uncle!
BEN KENOBI/BROM/DRAGON: No, you'll only be killed as well! It's too dangerous!
LUKE SKYWALKER/ERAGON: *goes home and sees body of dead uncle* *weeps*
BEN KENOBI/BROM/DRAGON: There wasn't anything you could have done. If you'd have been there they would have killed you too.
I mean, it wasn't word for word, but...if I were still teaching, and someone handed this story to me as an assignment, I would have failed it for plagiarism. And I'll just have one word for the next snotty Tolkien fan who accuses Harry Potter of ripping off LotR. Or maybe four words: "Aragorn; I mean, Eragon."
But the parts that weren't painfully deriviative were pretty good, and I thought the special effects were great (baby dragon--so cute!), and the guy who played the main character looked like Heath Ledger, and the guy who played the minor role of his cousin looked even more like Heath Ledger, so that was great, especially when they wrestled. But my favorite part of the whole movie was that the fat bald guy with the beautiful eyes from Pirates of the Caribbean 2 was in it (in this movie he was Sloan the butcher and in PotC 2 he was the quartermaster on the Edinburgh, but his IMDb profile doesn't have his picture and since they never referred to him as the quartermaster in the movie I could never tell which name was him). I finally got to learn his name (Steve Speirs). Yay!
So yeah, it's watchable, and it's entertaining enough. It's a movie that invites all its viewers to riff on it, and with the professional riffing of Mike Nelson and Kevin Murphy it's pure entertainment gold. Definitely worth the $3.