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The Good:
The action scenes were pretty good.
I like the whole zombie holocaust idea, so that aspect of the plot appealed to me a lot.
I like Milla Jovovich as Alice.
The Bad:
All the decent parts of the plot were rip-offs from Romero or the earlier Resident Evil films... well, except for the whole new development in it, which was entirely ridiculous and even more unbelievable than the basic plot.
Not scary.
Not suspenseful.
The end was anti-climatic and didn't wrap things up very well.
Overall: Honestly, *sigh*, skip it. It's Mad Max Beyond Thunderdome (minus the nuttiness) divided by Return of the Living Dead: Rave to the Grave (minus the humor).