I came close to nodding off at one point. The sad thing is that even with that section we never really get to know two of the major characters. He's a former IMF agent and he wants a lot of money. Apart from that the film never gives us any hint at his past or motivations. That's about all we know about her.
Cruise does a damn fine job with the action.
He impressed the hell out of me with his stunts and his fights. The scene where he's climbing a mountain is shot in a way to make you feel a bit of vertigo. To do that stunt himself I'm surprised he could climb effectively with the big balls necessary to do it. Don't expect acting on par with his recent performances in Eyes Wide Shut and Magnolia though. When the scenes are quiet he comes off a bit dull actually.