This is a big war movie, "Lord of the Rings" style, based on one of the most famous stories from the start of the Three Kingdoms period in Chinese history. The tyrannical Cao Cao has convinced the feeble emperor to make him Prime Minister and let him lead an expedition to conquer the independent southland. The movie follows the creation of an alliance between the freedom-loving kingdoms of Wu and Shu and their initial battle with Cao Cao, and focuses on the larger-than-life heroic characters of the leaders of Wu and Shu. The movie ends with the two armies set up across the Yangtze River from each other, ready for the final battle in Red Cliff: II.
No real surprises, but it's good fun. It's an all-star Chinese/HK-movie cast.