Loved it.

Rating: 9/10 (15 June 2007)

Okay, my employers keep a few pet rats in the office (caged of course). They're fairly cute (when they're not crawling over your food and stuff). Additionally, they subscribe to a newsletter for rat owners published by Debbie "The Rat Lady" Ducommun, one of the people Pixar consulted with to get a proper look for the rats.
As such, Ratatouille was a company outing for us. Hey, free movie preview, food paid for by the boss. Pixar. What's not to like? I found the film hilarious. Yes, it's about rats in a kitchen (blech!), but the way they handled it was great (especially the scene where the rats are "cleaning up" in the kitchen).
As to the storytelling itself, the film was good, but not great. It was a bit slow in some areas, then proceeded to jump around rapidly in others.
This is likely because of editing and timing choices for the film.
The film is still eminently watchable, it's just that in a few cases, the changes brought about by the story come up in a rather jarring way.