I enjoyed Troy very much.
I tend to like the movies that are trying to re-capture the magic that was "Braveheart." (Movies like "The Last Samurai," "Gladiator," "The Patriot.")
Yes, the movie took some liberties with the material. What movie doesn't?
Yes, the battle sequences were better in films like the LOTR trilogy.
However, Troy had some great lines in it and was quite entertaining. It is definitely worth seeing. It may not be on par with the other movies I mentioned, but it is still good.