I just saw it at the end of last October. While it has some flaws, overall, I think it was one of the best Cirque shows aside from O (I've seen Mystere, O, Allegria, and Quidam--or however you spell them all).
I have to admit, I was a bit nervous to see this... I feel Cirque, once you've seen a few shows, gets predictable. But this one has some unique (for Cirque) elements. Of course, if you have never seen a Cirque show, this will amaze you.
They use a lot of multi-media effects, and there is a very good sense of continuity... the show doesn't feel choppy. There's some good dance sequences. The major "film strip" dance sequence towards the end of the first act is brilliant, a major highlight. That said, the show never quite ends up topping that, although a very strong, extended opening to the second act comes close. Ultimately, though I felt the ending of the show was quite weak by comparison. There's sort of a romantic storyline which is never as clear as it should be, but the storyline is not really the main point of the show in the first place.
I was a bit disappointed with the music. With Danny Elfman at the helm, I thought it could have been more interesting. It's not bad, but nothing really stands out in it.
All that said, the parts that work really, really work. I would actually go see it again. I'd also recommend seats in the orchestra, there's quite a bit of audience interaction there, especially before the show actually starts.