Depends on your expectations...

Rating: 7/10 (25 May 2007)

Despite the extremely generous ratings scores, this movie is extremely average. Keep in mind the even JACKASS had a 8+ rating the first week on IMDb. The die-hards are the ones willing to stand in line to see this movie on opening weekend and will have a positively biased opinion when voting.
I saw this movie with one of those die-hard friends last night who scored VIP tickets for a showing in Denver (I wouldn't have waited hours in line to see this movie). I thoroughly enjoyed part I, very entertaining. I waited for Part II to come out to video and it took me 4 nights to finish it  it was way too long and I had a hard time staying awake. Hollywood has a history of making Part III+ movies simply to make $$ but they are rarely intriguing endeavors (already we have seen mediocrity in Shrek III and Spiderman III). So I wasn't expecting much and that's exactly what I got with Pirates III. It was just 'OK'. The special effects were quite amazing, saving a limited storyline and lack of originality. I predict the IMDb score will settle just below 8 in the next several months.