I was going to make a review, but I accidentally deleted it... sigh.
I'll just get to the main point then: What's the gripe with the technology? Both sides used the most ludicrous gadgets in the 80ies, just because most of it is common-place NOW doesn't mean that either the COBRAS nor the GI Joes didn't use very advanced and futuristic techs at the time. And what are the most apparent future techs that make the modern general wet his panties? Soldier enhancements. Either in the form of nanotechnological bioenhancements and psychological conditioning (COBRAS) or the form of computerized gizmos and power armor (GI Joes). I actually found it nice the duality of the different forms of technology both sides went with (as Nanotech and Psychological warfare are pretty grim, fitting the Cobras perfectly).
It's a good film. Lots of stuff really surprised me in a good ways. Some stuff could be better, but also had potential to be much, much worse (Baroness and CGI), a few were underwhelming (the main character blandness, but that's sort of expected from holywood these days... and the random flashbacks, that was largely unneeded), but most were well over any expectations (a plot that makes some semblance of sense in an action movie? With a backup plan that actually worked? A chekhov's gun that's used by the VILLAIN? Heroes who actually get accountable for their faux Team America actions? Having the good sense to make the American anti-anything-that-looks-funny-at-america (mercenary) sect become an international anti-terrorist (mercenary) sect? Not being afraid of being cheesy when it was needed? Damn, there's too much stuff here that caught me off-guard.)
Also, on a completely different vein, @Therunmance: What kind of mentality is that? Most of the problems with the world is that everyone think of themselves as American, or Iraq, or Christian, or Muslin, or Capitalist, or Communist, or Nazi, etc... first and foremost, instead of thinking of themselves as, I don't know, PEOPLE. Even worse, this kind of mentality that you so ironically says not to be "enlightened" by modern standards (while being kind of the rule for most people, really) is the kind of thought that motivates terrorists in the first place. This condescending, superior mentality that "I'm better, so lick my boots or else"? Well, guess what, it pisses off just about EVERYONE that's not you. That's why it was so easy to hate the great US of A during the Bush terms and it is so hard now at Barack's terms (really, the American republicans are about the only ones who actually, sincerely hates the guy. What gives?), because of their views of global relations. Bush saw everything and everyone as enemies of the "American way", while Barack is not blind to what is completely fucked up about their own american policies (the world always considered the American "healthcare" system to be some sort of sick joke a Nazi would come up with... and the legal system too, but in this case it is the sick joke... well, an american would come with). People (and nations) like people (and nations) who admits their own mistakes, and completely abhors anyone who can only see wrong on others. Weird thing, huh? That's why in any high school story you're not supposed to root for the bully, but the bullied.