I liked it. I liked it a LOT. They did a fine job of faking us out with the whole "Is Cumberbatch Khan? No.... yes... no..." Well, it's yes; only it's Khan from "Space Seed," the young, enigmatic, charismatic, megalomaniac out to take over the worlds, and on the way take down the guy who woke him up in this timeline, Admiral Marcus (Carol Marcus's father). Kirk, as is his wont, gets in the way and action ensues.
Whee!!! The acting is great, the story is just fun Trek-alicious romping, and while sure, it's got flaws, what Star Trek movie doesn't? I'm really not sure if it's better or as good as "Wrath of Khan," but I loved it anyways. Lots of good Trekkie humor, serious action, nail-biting escapes, the usual; plus a super kick-ass Uhura who leads me to wonder if Nicole Nichols is proud or a little peeved, torn between "Yay! Uhura gets to fire phasers and KICK ASS," or "Damn it, why couldn't it have been me?"
The actors have gotten smoothly into playing their iconic roles (especially Simon Pegg, who is clearly having the time of his life); I'm still loving Chris Pine, and Barb has done me a disservice that pointing out while Zachary Quinto looks like Spock and acts like Spock, he doesn't SOUND like Spock, and his tenor is sometimes disconcerting -- especially when he's speaking to his future self (and we all know who that is).
My one and only quibble with Cumberbatch as Khan is I do have trouble with a super-powered genetically-engineered regenerative dude having British teeth...
Otherwise, he is astounding, as I'm sure everyone expects from him. The man can really act. I want to see him with Robert Downey Jr., so hopefully the next villain he plays will be pitted against the Avengers.