I had been looking forward to seeing this movie as the advertising had billed it as something of a period epic, something along the lines of a Hong Kong "Gangs of New York".
I have to say that the sets and reconstruction of 1906 Hong Kong were very good, but there were some occasions where the matte backgrounds didn't quite gel with the foreground.
The story on the whole was very good, with the key characters either learning or demonstrating the link between sacrifice and revolution. However I think this movie loses effectiveness by trying to do too much.
For a film such as this which tries to be a historical epic, the wire-fu stunts look incredibly out of place. It would have been far more effective to keep the stunts grounded in reality. The wire-fu stunts work well in films such as Crouching Tiger, Hidden Dragon and Hero where there is an element of fantasy to the whole story. For a story that is purportedly a historical account all it serves to do is remind the viewer that he is watching a movie, not real events.
I also found the inclusion of Mengke Bateer off-putting. A seven-foot Chinese in 1906 Hong Kong doesn't seem very believable to me. I suspect that he was put there to get a few cheap jokes, as the character would have been just as believable as a six-foot well-built person.
These may seem like minor issues, but for me they detracted from what could have been a truly excellent film.