The story is relatively standard for a Robin Hood tale, but that's not a bad thing. The action in the film is pretty good and most of the acting is as well and I was mainly kept interested throughout.
Not sure if I prefered Kevin Costner or Russell Crowe as Robin but he was still pretty good. I thought Mary Elizabeth Mastrantonio portrayal of Marian was poor, I found her to be annoying throughout the entire film and didn't really add anything interesting to the film, whereas Alan Rickman and Morgan Freeman make great additions. Alan Rickman plays the evil sheriff of Nottingham and he is pretty much perfect for the role, he really suits being the bad guy, and Morgan Freeman plays Azeem, a Moor warrior who helps out Robin with his trusty saracen sword and other mysterious ways.
It's not as good as some other Robin Hood adaptations I've seen, but I would still recommend it and probably watch it again myself at some point.