This is one of the most beautiful movies I have ever seen. And I mean visually stunning. Each frame is like a picture. The colors are well balanced and vibrant. Liberties are taken with historical accuracy, in order to present this atmosphere that blends fantasy and realistic history. It features wonderfully performed music that fits its "fantastical history" feel. The story line is melodramatic, but I think that would appeal to us drama addicts :)
Yun-Fat Chow does an amazing job of inviting you in to his character while keeping a cool and aloof distance. Li Gong does well as the Empress, but the rest of the cast is unmemorable.

In a nutshell: Visually appealing if you like bright, ornate visuals, but may be too flashy for some. The story is melodramatic which can sometimes be boring.