I give it two enthusiastic thumbs up.
If you've read the Illiad and the Odessey, you'll find that it goes along the story exceptionally well. Orlando Bloom plays a very good pussy, Paris was no swordsman, but a highly acclaimed archer.
Brad Pitt plays Achilles well. Funny and completely arrogant, which makes him all the funnier, especially when he's not supposed to be funny.
Eric Bana (izzat right?) made a good Hector. And yes, Helen was HOT. Yum.
I can't compare it to Gladiator, because I didn't see Gladiator. But for a 2 hour and 42 minute movie, Troy was well worth the $7 to see.