Sucker Punch is a two hour music video, with less story than most.  Or it could be described as a movie about dancing and singing without showing any dancing or singing.  (According to wikipedia, dancing and singing was shot, but cut since the movie was too long.  http://en.wikipedia.org/wiki/Sucker_Punch_%28film%29)

The plot is this: "Babydoll" gets shuffled off to a loony bin (the opening sequence is the best part of the movie), and wants out before she gets lobotomized.  For the duration of her stay, however, the audience is stuck in her fantasy world in which the sanitarium is a seedy brothel.  We don't see the sanitarium again until the very end, which I think is sad because I felt it could have added impact to flash back to reality during the really eventful parts.

Just in case one level of fantasy wasn't enough, every time she goes to "dance" in the brothel, she flings herself (and us) into a deeper delusion.  These are the "music video" parts, where there is some sort of slo-mo combat action with a remix/mashup song playing throughout.  Any one of these sequences could have been "Music Video of the Year" had they been released as such for MTV or MuchMusic.  The visuals are cool, as are some of the songs.  But I find myself not giving a damn since this is just a fantasy within a fantasy and has only the loosest relevance to the plot.  Success in this fantasy implies success in the brothel fantasy implies success in the real world.

The ending is the worst part of the movie.  While it's designed to "blow your mind", it just bugs the crap out of me.  All it accomplished was to reinforce that the whole movie was told from the wrong point of view.  I found it frustrating because it leaves me with only one question: What is worth all that effort?

I'm currently reading the ten book Steven Erikson Malazan series, and if I find out that after all the years of warring amongst men and gods, entire civilizations being extinguished, and even gods being brought down, it was just Shadowthrone trying to brew the perfect cup of coffee, I think I might be less disappointed.  (Mostly because that would be funny)

The Good: Spectacular Music Video sequences
The Bad:

• Too much CGI in the combat dulled the wow factor
  
• Too grounded in fantasy.  I would've really liked to have seen more parallels with reality
  
• So much buildup for dancing that we never see
  
• Too much Bjork
  
• Unsexiest brothel ever depicted in movies (Even Zombie Strippers had more sex appeal)
  
• Complete lack of concern for the characters in any level of fantasy
  

The Ugly:

• The revelation during Babydoll's escape
  
• The bus driver
  

The saddest thing is this COULD have been a really good movie!  Get rid of the mind blowing ending.  Give the audience enough "reality" to make us care about the characters even in the fantasy world.  Get a real fight choreographer.  All I kept thinking through every fight sequence was "This is how the internet made Star Wars Kid look good."  http://www.screamingpickle.com/humor/legends/StarWarsKid/