Just saw the movie, I agree that it kicks the third movie square in the nuts in terms of continuity, but the whole Wolverine thing...ehh sorta...just by having the Ice Queen be in Origins and this.
I really enjoyed the movie, but a couple of things kept it from being over the top for me. Way too many references felt really really crowbared in, I mean one of the last lines "no you're not G-men, you're X-men" made me groan. There were points that I just got tired of them beating me over the head with the whole, hey look its the X-men look, look!
Also the fact that they really don't give the characters that much to do really disappointed me, Xavier and Magneto are really the ones carrying the movie entirely. You get some glimpses of Raven and a few other characters, but even then they are mostly back ground and some characters really do damn near nothing. And because of this some of the performances really felt lame compared to the leads.
Also felt that the end of the movie was a bit sped up for the character development, it really felt like Raven's turn was way, way too quick.
Also maybe this is just a direct translation from the comic, but what the heck is with the bad guy's super powers. He has the power to absorb energy, radiation, fire, etc. Ok cool, but it is a bit hard to swallow that this basically makes him untouchable because its like lol bullet, that's clearly kinetic energy so I can get hit by it and be completely fine.