I didn't see this until November-ish 2013 on iTunes.
Short answer: I liked it okay - better than the 1st one.
Long answer: I've given up hope that a major Hollywood studio will ever make a "spot-on" live action movie of any "fan-boy" subject matter (although I guess The Avengers came closest). They have so much $ invested in it that it needs to make a profit, and if only fan boys go, they won't recoup enough of their investment. So, they feel they need to:
A.) Have star power to draw in the non fan boys. I don't like this because, I end up seeing the star and not the character. I didn't see Joe Colton, I saw John McClane. I didn't see Roadblock, I saw The People's Champion. Back in 1987 I didn't see He-Man, I saw Ivan Drago.
B.) Speaking of MOTU, these studios fear that the "average moviegoer" is too stupid to be interested in a movie JUST about Eternians or Giant Transforming Robots and their interatcions with each other, so they force these stories to take place on Earth and cram Courtney Cox and Shia LeBouff down our throats to "keep us interested" or "relate" to the plot......
C) There is a fear in the industry that a movie can't be close to 3 hours and/or JUST be a "part1" or an origins story when a new-to-big-screen franchise launches, or people will lose interest and abandon it, so we end up getting films or even trilogies that feel rushed or too many key aspects get crammed-in or cut altogether to fit the standard blueprint.

Is this G.I. Joe's fault? No. It's Hollywood's. So considering what their chances were to begin with, it did an okay job. But until a studio wants to take on ALL of these important plot points listed below and spread them over 5-7-heck 10 films (Fast & Furious has 7 and counting, James Bond has 25 and counting, Harry Potter got 8, LOTR/HOBBIT got 6, Batman & Superman & Spiderman all have in the neighborhood of 6,7, 8 and counting so it IS accepted at times and G.I. Joe has just as much if not more source material/history/fan loyalty to the brand to draw upon as those franchises do), or a super rich independent film maker wants to buy the rights and do an "indie" version that isn't obsessed with nailing EVERY demographic, I'm not holding my breath on a definitive, epic G.I. Joe movie franchise that stays true to the source material.

1.) The Stalker/SS/SE LRRP
2.) The SE/Scarlett helicopter accident
3.) CC's car salesman beginnings
4.) The SE/CC family car wreck
5.) SE & SS training together
6.) CC approaches Zartan and the assassination
7.) The Hawk/Stalker recruitment of the O-13
8.) The Baroness' younger days and her brother's murder
9.) The Kwinn/Dr.Venom stories
10.) Billy's childhood in Springfield
11.) Some backstories for Destro (ROC actually did this well), Firefly, Major Bludd, Scrap-Iron.
12.) The Crimson Twins, creation of Cobra Island, and Fred series storyline
13.) The construction/destruction/rebuild of The PIT in Ft. Wadsworth

The above listed points are just a start, yet all crucial, and probably if done right could span 3-4 films on their own. Each successive film could also introduce "newer characters" the way the comic did. Just my 2 cents.