Contrary to popular notion the movie Hero, starring martial arts phenom Jet Li is not a new movie. I personally saw it first about 2 years ago via my Chinese friend's DVD pipeline. However, due to lack of interest from any major American distributor, Hero stayed mainly in the East and it's cult following slowly built up pressure here in the West.
That lack of interest changed, partially due to the success of 2001's Crouching Tiger, Hidden Dragon. The western bigs took notice and Tarantino championed Hero for American distribution.
And what a good move because in my opinion the movie is stunning.
It looks beautiful, the story is strong, the acting is powerful, romance is profound, and the fight scenes are magnificent. After you see it you'll not soon forget it. If you liked Crouching Tiger, Hidden Dragon you will like Hero ( I HATE using the cliche' movie plug lines, but in this case it really fits).
No spoliers but there's a sword fight in the rain...gahh! You gotta see it.
Also keep in mind that this movie was made years ago. Not that the style will be dated but if you see some effects and think "Oh, well they took that from X" it's probably the other way around. If you want to see what effects will be mined for "hotness" in America a few years from now watch the Hong Kong movie industry today. The Wachowski Brothers (Matrix) took it all the way to the bank.
Big ups to "Marco Polo" Tarantino for bringing Hero across the trade routes.

p.s. If you do not like the movie I will send Jet Li to your house and he will thunderkick you in the colon.