I was pleased and disappointed at the same time.
I was pleased because there was more to the story than I was anticipating. I hadn't heard much about it, believe it or not. Of course I knew the ship was doomed, and I had a vague notion of the romance, but didn't know what else to expect. Yeah, there was romance, but there was a lot more.
For example, the introduction of the Heart of the Ocean and Old Rose was brilliant. The entire setup, actually, was very good. The story would let us drift in and get swept up in the grandness of everything, then her voice would return, reminding us how it was all going to end. That was fantastic.
The general introduction and development of characters was good, too. The people on both ships had distinct personalities, goals, and changes in character. I especially liked the introduction of Young Rose. It is obvious she is grand, and likely stuck up, before she even exits the car. She goes through a whole series of reveals: first the crowd parts to let the car through, then the door opens, and she steps out, and we finally see her face as she tips her head and the hat is no longer blocking our view. Jack is also introduced well, and using reveals. He has a very definite character that is strongly maintained throughout the film. Rose's mother, too, has a character, as do the captain, various crew members, staff, and a few passengers that we get to observe.
However, this transitions into one of my major disappointments in the film, and that was acting. I kept thinking, there were about four characters that were really played well. By that, I mean it is conceivable that the actor actually is like that. The viewer is not able to tell that the character is, well, in character. Ruth Bukater (Rose's mother), Brock Lovett (the man searching for the heart of the ocean), Thomas Andrews (the ship's builder), and Jack Dawson are the four I would say played the most believable characters. The others often felt forced. The Unsinkable Molly, for example, sounded to me like she was reading every line from a teleprompter in a forced tone of voice that she would never use in real life. The actress who played Old Rose was fairly good, but the youthful Rose was not convincing enough.
Like Forrest Gump, I can easily tell where the crowd appeal comes from. Knowing the end of a story before it begins is usually less than optimal, but in this case it works very well. The storytellers were still able to work in enough plot twists to get you guessing. Also, as soon as we knew there were only a few hours left, everything felt so much more intense. The sense of urgency was most definitely there. It is not one of my personal favorites, but it is overall a well told story and will stay a classic for many more years.