Weaker than the first two, but that's hardly a fault

Rating: 8/10 (25 June 2014)

'The Godfather' and its first sequel, 'The Godfather: Part II', are both hailed as two of the best films ever made (with the first sometimes considered the very best). A couple decades after them, it was given a proper ending/'epilogue' with 'The Godfather: Part III'.
While the first two dealt with the rise of Michael Corleone, this deals with his fall. Wrecked by guilt at all his wrongdoings and his strained relationship with his ex-wife and children, he attempts to repent for his sins while also taking in his illegitimate nephew as his successor within the mafia business.
As one can expect, things don't go right. A tale of betrayal, murder and power hunger unfolds.
The movie retains much of the great cast of the first two. Al Pacino is great as ever playing Michael Corleone, now in a much more emotionally pained and fragile vision than the ruthless kingpin he was in the second. Diane Keaton and Talia Shire also return well (Keaton more so, while Shire does get annoying at times), and the entire supporting cast (where Eli Wallach in special shines) is great. Andy Garcia is also good, though he doesn't shine (which is made worse by the fact Robert Duvall didn't return).
The film also retains the sophisticated atmosphere of the first two. And their excellent soundtrack, excellent directing and pacing, and dialogues.
On the other hand, it still falls short of living up to the expectations. It ends up too continuity based; it is almost impossible to understand it well without knowledge of the first two films. A good deal of what made 'The Godfather: Part II' such a masterpiece was exactly the fact it didn't rely on the first; it could stand on its own.
'The Godfather: Part III' would be a mess if you take it for itself.
Another problem was Coppola's usual nepotistic tendencies. It is common of his to cast his relatives in his films, though usually in minor roles (he did that in the first two). This time he went overboard: rather than search for a new actress once Wynona Rider withdrew, he decided to cast his own daughter for the major role of Mary Corleone (Michael's daughter). She is an amateur, no wonder her acting career didn't pick up; she is still watchable, yes, but her scenes lose so much of intensity and believability she could have single-handedly sunk a lesser film.
So, despite not being the masterpiece 'The Godfather' and 'The Godfather: Part II' were, 'The Godfather: Part III' is still a terrific film. It just suffers from the absurd expectations the first two generated.