I had the privilege of seeing this film in Tokyo while it was still in theaters. Having played all of the Phoenix Wright/Gyakuten Saiban games, I was very familiar with the source material. That being said, it easily introduces all of the characters in a very succinct manner, and their personalities show through brilliantly on the big screen.
The summary: Ryuichi Naruhodo aka Phoenix Wright is a struggling defense attorney who works for the Ayasato law firm. After a shocking murder, he finds himself in the high court defending a client against murder... pitted against a prosecuting prodigy... who just happens to be a childhood friend. The twists and turns of the case lead Naruhodo into an investigation of a long-closed case which is very relevant to current events.
For fans of courtroom drama or mystery, it's a very suspenseful and very clever murder mystery, but if you've played the first game, you already know how it turns out. For once, a director chose to go with the original story rather than trying to go off in a strange direction or "re-imagine" the details that people know and love (yes, I'm looking in your direction, Michael Bay), though some elements have been absorbed into one story to make sure the entire story takes place. All of the cases from the game are referenced, though not all of them are fully played out on screen (time constraints). Additionally, there are no clever "wink wink" moments to future games in the series, thank goodness.
Purists will be happy to know that some of the musical numbers come straight from the game, particularly in the courtroom, and the "floating box" evidence presenting element from the game is preserved as a very cool holographic system.
If I may level one criticism, it's that just like the game, the "investigation" portions tend to drag, but the courtroom scenes will have you sitting on the edge of your seat, pointing dramatically and shouting, "IGI ARI!" -- OBJECTION!