Feels largely like a made-for-TV sequel

Rating: 5/10 (11 January 2011)

This film is without any of the magic of the first two installments in the series. Where the first two Godfather films are absolutely brilliant in their understatement, this film is exaggeratedly bold, over the top, and often just plain ridiculous.
My reasoning:
1. The film exhibits far too much reliance on melodrama.
Clear examples include much of Pacino's representation of regret, the entire episode where Kay and Michael travel together through Sicily, Vincent and Mary's whole relationship, Michael's diabetic attack and hospitalization, etc. The first films are dramatic, but they were never melodramatic. Even the most over the top emotional scene of the first films (Kay confronting Michael with her intention to leave him) never feels as cheesy or unnecessary as all of the romance does in this film. The texture and tone of the first films was created in their subtle communication of a deep love for family, an ubiquitous and totally seamless presentation of a world that revolves around respect, and both Michael and Vito's hidden mastery in every moment, and extreme astuteness for observation, reason and judgement. All of this is lost here, and traded in for bad, often very forced-feeling, dramatics.
2. There is a lack of the same brilliant cinematography.
The entire palette here is too brightly coloured, there are no equivalent remarkable or truly memorable compositions of frame, and overall the look of the film (not the sets, or the costumes, but the film itself) feels quite low (like it was shot for TV or something).
3. There are very uneven performances.
Examples include parts of Andy Garcia's and Pacino's, almost all of Sophia Coppola's, Talia Shire's, etc. The first two films, on the other, portray some of the most memorable ensemble casting of any film ever made.
4. Several scenes feel weak and altogether unnecessary.
Take as an example any of the melodrama mentioned earlier.
5. Many aspects of the plot are exceptionally far-fetched.
I could have used a little more exposition on how these gangsters got their hands on a military issue helicopter, not to mention how in the hell they managed to fly it around US airspace unimpeded. The whole centralization of the plot around a Papal-Vatican Bank conspiracy is a little much too. As political as the previous Godfather's were, they nonetheless felt grounded in realism. This story- line ends up feeling less historical, and more just crack pot (which I would consider to be true even if this telling of the premature death of John Paul 1 turned out to be more historically accurate than the official version.)
6. The score is redundant and far less powerful.
Thinking of it now, all I can remember of the score is the repetition of the same themes from the previous two movies. (And to none of the same powerful effect.)
In summation:
This movie does have some good qualities, though I haven't bothered to list them. Mainly that's because all of the top reviews I've read seem to try way too hard to justify how this isn't a terrible film.
Everything that made the original installments in the series so remarkable is left out here. Mostly this is due to the inclusion of far too much melo-drama, and generally what feels to me like fairly uninspired film making.