I just saw it a few minutes ago here in Seattle at one of the best IMAX theaters in the world and I had a helluva good time.
I'm not a big Star Trek fan and have never seen one of the movies with the "new guys," (Piccard, etc.) and had no idea what I was in for.
I give it two big thumbs-up, particularly because it was essentially a prequel and it captivated the attention of old guys like me and laid the groundwork for a whole new generation of Star Trek fans.
What I probably liked the most was the somewhat convoluted plot, one that didn't condescend to the lowest common denominator. It was sort of like the producers said, "Star Trek fans are generally smarter than the average Joe. Let's give 'em something to dig their teeth into."
Anyway, at the end of the movie it occurred to me that James T. Kirk's original Captain's chair was about 900 feet away at the base of the Space Needle in Paul Allen's museum of Sci-Fi...
It was a good day and I recommend the hell out of this movie.