Were the option available, I would probably give this 4 1/2 stars. As the title suggests, the film is a bit clumsy getting its feet, and it is not what you would normally call "a classic." It was unclear at the start that the film was actually aiming at a comedy of errors style of adventure, and a genuine homage to, and construction, upon the Richard Lester classics. However, once it got settled, the sub-plots began developing, the characters emerging and the situations going absurdly awry, then the story really took off.
The acting is quite good, the fencing is rough and tumble -- neither the nancy stuff of most "Errol Flynn" old-style swashbucklers nor the fantasy wire-work that became popular with "Crouching Tiger" -- and the dialog is nicely crafted. As to the latter, there are more than a few sly jokes in there (and some rather more blatant) which make it a pleasure to hear and follow.
It is subtitled, but that is always better than the dubbed versions I find. The people who dub movies never find voices that match the characters, and the writing can suffer. With subtitles you can hear the music of the original language while following the narrative in the displayed text.
The story itself might be thought of as an alternative universe to the original "20 Years After" storyline of Dumas, and as such is perfectly pleasant bit of distraction. The camera work, settings, mise en scene, are all handsomely done; indeed, the visuals by themselves are worth multiple viewings. Indeed, now that I know where the film is going, watching it again will be even more enjoyable than the first viewing, since that awkward start will be done with in a flash.