Just got back from movies and dinner with the wife and we went and watched the new Underworld movie. My wife loved the 1st two and this one was no different.
I've read numerous times on other sites people not wanting to see this because Kate Beckinsale wasn't in it. I really don't see why not, it's an origins movie about Lucian, Viktor and Sonja (Viktor's daughter). It didn't need Kate and besides Rhona Mitra who play Sonja is practically just another Selene (by design).

Probably my favorite part of either of the 1st two is the opening scene of Underworld: Evolution, with Viktor and the other vampires clearing out the village of werewolves while dressed in their mid-evil garb. Rise of the Lycans is like that but longer, with a love story mixed in.

Is this movie going to win any awards, no, but it isn't suppose to just like the previous two installments. But if you liked the 1st two, then I see no reason why not to like this one.