I enjoyed the first two Shrek movies. They were funny. They had awesome villains. They had good story lines. The third instalment has none of these. It was a disappointment. At one point during the movie, my wife and I started to nod off. Even our three-year old was fidgeting - a clear sign that the movie was not holding his attention. Thank god we paid matinee admission.
The theatre was about 1/3 full but there was very little laughter from kids and no chuckles from the adults. The preview for The Simpsons movie received more laughs. Humor was missing from the story. I didn't buy Prince Charming as a villain and found the Sleeping Beauty/Snow White/Cinderalla characters to be a distraction - they added nothing of value to the story. Donkey used to be funny as the sidekick, but this time around he (and his 'kids') were annoying.
The last third of the movie, and especially the ending, was a big let down.