Sans spoiler tags, per above posts.
The worst thing about Mac is that his constant greedy cowardice makes Indy look like an idiot for being his friend for years. Was he really able to hide his evilness for that long, until this moment when he let it all hang out?
I thought the kid's name was Mud too, meaning I missed out on the joke until days later. Grr.
One thing that bugs me when people say "I hate CG, bring back traditional filmmaking" is that there are plenty of movies that used CG for good, not evil. The Matrix and Jurassic Park immediately come to mind. CG is a tool, and it can be gaudy or gritty, depending on who wields it.
That said, there wasn't a single stunt in this movie that tops Indy being dragged behind a car in the original. I loved the ants scene, that was classic.
I did like Mutt's character. I thought his attempts at a tough guy front were balanced enough to make him seem vulnerable and yet streetwise. I thought Shia did a great job and he's make a great Indy. (yes I said it)
HOWEVER - they have dug themselves a hole. There cannot be an Indy later than the late 50's, it just doesn't make sense with the shifts in our culture. All the mentions of Indy's exploits in the last 18 years only made me feel like I missed out. Where are THOSE movies? They waited too long, and now we get old Indy and young new Indy but at very tail end of the era when Indy works. Bastards.
The only way out is to do what they did with Superman Returns, with a pinch of Casino Royale. Don't make "sequels" per se. Take Mutt and send him back in time to 1935. Don't explain it, just start over. It's the same character but different, it's the same time but different, alternate universe style. Otherwise, it's not going to work (and even then it won't work because Spielberg and Lucas will be involved).
The moral of the Indy series is that everyone is right - Jews, Christians, voodoo worshippers, and rednecks who claim to have been anally probed. All magic is real, all gods coexist, including the god of "we couldn't have invented this, it must have been godly aliens". Indy is equal opportunity. I kinda like that.