The original Predator film directed by John Mctiernan is a must see film. I recall quite vividly the first time I heard about this film. An older cousin of mine told me that it was a film about hunting and that is all he would tell me. Arnold Schwarzenegger, Jesse Ventura, Carl Weathers, an alien creature who crashes in the jungles of South America that can cloak itself, such an amazing action-packed thriller. Massive machine-guns, explosions, ultra-violence, excessive cursing, and extreme machismo, it's a film very much targeted at a male audience. 
Since the original 1987 film there have been 3 films: Predator 2 (1990), Alien vs. Predator (2004), & Alien vs. Predator (Requiem) (2007). Of those three films, I have only seen Predator 2 and while entertaining, was not nearly as enjoyable or memorable as the original.
Robert Rodriguez (ala Desperado, Sin City, Planet Terror, From Dusk till Dawn, etc.) has just released what I consider to be a proper sequel: Predators, starring Adrian Brody, Laurence Fishburne, and Topher Grace.
This film was an absolute joy to watch and considering the somewhat lousy summer screening options, the only thing I have to say is: ABOUT FUCKING TIME!
Predators flips the original movie on it's head (well it does and it doesn't - let me explain). In the original film an alien life-form lands in a jungle environment and proceeds to hunt down and eliminate humans that occupy the area. A team of military commandos under the guise of a routine military mission is caught in the cross-fire of this jungle predator. The mission abandoned, things soon turn ugly. The violence escalates and a man versus alien battle for survival.
In this new film Predators reverses so much of the set up of the original. In this film, the aliens are the humans and they have been sent to this planet as some type of sick twisted game. The planet functions as a massive jungle reserve where the alien Predators hunt humans for sport. The foreign species that invades this jungle is not the Alien, but the human.
While this film will never replace or top the original, it is an action-packed fun-house. Full of everything I wanted and expected: violence, explosions, one-liners, a massive body count at the end of the film, and some awesome predator style battles.
The pacing in the film was dead on and the film moved very quickly. I think that some of the special effects (particularly the costume and design of the predators) could have been improved. The predators in this film did not seem as massive or fearsome as the original predator. Adrian Brody's performance was perfect and while not nearly as buff or muscular as Arnold, took center stage and holds your attention and carries the action with ease.
I think the story was a bit simple but then again it also works. My major complaint is that this film seemed a bit too short, as did the final battle sequence. It felt rushed. The original fight sequence between Arnold and the predator in the original film was a drawn out affair that built tension and let the action rise slowly into a massive explosion. This film had action sequences spaced out equally but the build up wasn't really there.
If you enjoyed the original then I suggest you go out to the theatres and sit back and relax. A fun film that is filled with old-school violence and explosions. I wish I had had a few beers before seeing this. This is the type of film you watch with a group of friends while buzzed.