I saw The Bourne Ultimatum tonight. It was decent; nothing spectacular. The action is good, but the story is nearly nonexistent for most of the movie, and when storyline does show up toward the end, it's pretty vague and answers very little. That said, good action and crappy story can still make for an entertaining movie.
The biggest problem with the movie, which anyone who saw it will agree, is that it must have been filmed by a crew of cameramen hired from a hospital seizure ward. There's hardly a scene where the camera isn't jumping around incessantly and distractingly—someone could get seasick from this movie. One of the more absurd parts of the movie involves Jason Bourne looking through a high-magnification monocle into another building. Somehow he is able to keep the monocle perfectly stable, even while the cameramen filming him are wobbling back and forth like bobble-head dolls.
I seem to remember this being a problem with the last Bourne movie too, but I'm not sure. Maybe it was MI:3 or Collateral. They all kind of blend together for me.