I saw it today, and I loved it, no apologies, no qualifications. This is what I'd call a 'great B-movie'. It's a very good film with an impossible combination of super-hype and the legacy of Pulp Fiction to live up to. It sure as h@ll beats the pants off Jackie Brown.
It helped that I had read QT's interview in Playboy, and knew what to expect. QT wanted to make a blood-soaked, kung-fu revenge flick, like those he enjoyed in his younger days in the 1970s, and the film is jam-packed with references to 70s films and TV programs.
The soundtrack includes musical cues from 70s TV shows (the sounds heard whenever Uma locks eyes with her next victim are from a TV theme song, though I don't recall which show) The movie begins with a vintage 70's theater title card: "Our Feature Presentation" over a funky kaliedescope visual. As Uma takes a flight into Tokyo, the airplane is intentionally very, VERY fake-looking. She carries a huge, lethal sword on the plane with her, leaning it right next to her seat.
There is ample sick humor; whenever someone is killed or maimed - decapitated, arm cut off, etc. - ridiculous quantities of blood spray out like water from a shower head. There is even a roughly 10-minute anime sequence in the middle.
It has a few good scenes of QT dialogue (though, I will admit, no exchanges to compare with Travolta and Jackson in PF).
Don't go for plot; here it is in a nutshell: Uma is a professional assassin who 4 years earlier quit her job, intending to get married and settle down. Her former employer, unhappy with her resignation, sends a death squad to her wedding killing everyone but her, and leaving her in a coma. She awakes 4 years later and begins a campaign of lethal retribution. There's also a subplot about her daughter that is barely hinted at in Vol1.
That's it -- no story surprises at all. It's not where the story goes, it's how it gets there. If you're interested in seeing HOW she wreaks revenge, you will love the film. If this doesn't interest you, save your money.
For the record, my wife hated it, but that didn't surprise me. Screen blood and gore bother her a lot.