The fights were decent, acting was horrible.
Also whoever directed it had some pretty bad camera angles in a lot of the important fight scenes. It would seem to me that their budget wasn't high enough to make this the extremely successful movie that it had the premise to be. CG was extremely lackluster at best, and they should have used it quite a bit more to give action sequences a more intense feel.
There were a lot of cheesy cliche action flick moments in it too, especially in the very end when the elder predator and pred-alien kill eachother. I just didn't feel like the movie did justice for either the predator or alien. Aliens are supposed to be super quick and dirty and the predator was always the bonafied badass. These two traits weren't elaborated on enough except for when the predator was in the sewer. Even then, the predator was the only one who really got props for anything.