It had some cute moments. The effects were well done and witty. The actual "Sorcerer's Apprentice" moment with the music and the mops was great, but it's sad to realize how many kids in the audience have never seen or even heard of Fantasia.
Alfred Molina was campy as hell. He came off as gayer in this than he did in Prick Up Your Ears and was clearly having a blast, as well as doing it for the money, dear boy. Jay Baruchel was incredibly nasal, and apparently channel young Dustin Hoffman. Teresa Palmer-very generic blonde.
And Nick Cage? Wow. One minute trying to be Obi Wan and another still using the same voice he had back in Valley Girl. Not terribly consistent and not really the gravitas to make it believable, BUT maybe that's the only way to play it for a younger audience these days.
Note to film-makers: IF you're going to have a character do a Jedi Mind trick, please don't ruin it by having a secondary character lamp-shade the fact.