Sumptuous graphics, as always.
The visuals were lovely - speedlines and depth of field were used occasionally to great effect and the small touch of 'bullet-time' was nicely handled.
The music set the pace perfectly.
The action was fairly well scripted. However, I have a couple of (minor) criticisms.
Firstly, near the start of the movie, it looks as if the same uberkid has been skewed around to make them look as if they're in a circle - it all looks flat, almost like Paper Mario.
Secondly, throughout the action, Pico wasn't put into danger enough for it to be truly thrilling for me and the start and finish, though amusing, weren't enough to make that irrelevant.
Damn fine though.