Saw it last night..
better than I thought itd be judging from the trailors, which isnt saying too much. If it wasnt for the terrible and predictable 'everyone learns a lesson/everyone wins' ending, it couldve been a lot more memorable. Its a kids movie with laughs here and there, but its still a kids a movie. Those Italian kids must be playing for some top youth academy, they were amazing. It reminded me of Elf, as it was a pretty decent until the final act.
However, if you dont go nuts laughing when Ferrell pushes that kid in the back of the head, you should stop and revaluate your life.
Im one of Will Ferrell's biggest fans, but hes gone too mainstream these days, and movies like this (and Be-Witched in the fall) are the the result. He dominated on Conan this week, so im not too worried.