Just saw it on the movie channels recently. It wasn't a great movie, but it could have been worse (or in other words, it was okay). Frankly, I could have done without them ripping off the entire premise of the re-imagined Battlestar Galactica miniseries for the final act (seriously, they took it from BSG. I mean, they go to the dry-dock and break out "the old museum piece" to take the fight to the enemy. That just screams, "Hey, BSG fans, we're ripping this off just for you!"). Frankly, it probably would have been better if they had made it a period piece as much as an alien invasion piece (hey, they did it with Cowboys and Aliens. Plus, by having it set in the 1950s, they could have actually included a Battleship in the fight from the get-go).
One thing I didn't like was the fact they had tons of music that is sort of patriotic film, yet they end the film on an anti-war song. Really? Going through all of that, trying to hype up about how kick-ass the Navy is, and then you end it on "Fortunate Son" by CCR?