I saw a sneak preview on Tuesday. It's an entertaining movie, and I would recommend seeing it. That said, there are some parts that are very cheesy. Random thoughts (trying not to spoil major plot aspects):
1- Although it's billed as "Romeo and Juliet with vampires and werewolves", they barely even touch on any romance aspects. The two main characters don't really "get together" at any point. I thought this aspect was quite nice, something different from everything else out there.
2- One of the actors really cannot act. Believe me, you'll know who I'm talking about when you watch the movie. I've seen better actors in high school plays.
3- For some reason, Kate's P99's are full-auto.... and seemingly filled with an indefinite ammo supply.
4- The vampires get shot with bullets filled with an "irradiated fluid" that somehow mimics daylight. If you can tell me how to fill a bullet with daylight, I'd love to know.
5- Lots of nice guns on display. But very little in the way of tactics... they tend to stand out in the open, under heavy automatic fire, and take out all the enemies without getting hit themselves. But I guess that's not much different from many other action movies.
White Wolf needs to lay off. They didn't invent vampires and they didn't invent werewolves, and heaven forbid that anyone besides WW should pit the two against each other.
Definitely worth seeing, if you're looking to be entertained. Not an arthouse classic, but not a mindless shooting-fest either.