Saw this today, and thought it was pretty goddamn good, even great at points. I'm not going to pretend it's one of Scorsese's best, but it's definitely one of his most heartfelt. Laundry list!:
-Asa Butterfield and Chloe Moretz (damn, this girl moves fast!) have a terrific dynamic and chemistry together. I like, for instance, that Butterfield plays Hugo as pretty sullen and withdrawn at first; he's not some eager Charlie Bucket-type, but a kid whose experiences have made it difficult for him to trust people. That makes his outbursts of sadness or joy all the more effective, methinks. Moretz, meanwhile, remains one of the most ridiculously versatile young actresses working today, and her British accent is quite nice and adorable too.
-Kingsley has a great push-and-pull thing going on with Butterfield as well, and he plays the big emotional moments to perfection.
-The supporting cast is just astonishing. Sacha Baron Cohen makes it clear right from the start that the Inspector is not a bad or evil man, just bitter and lonely, and I love how he played the gradual transformation. Of course, having the ridiculously lovable Emily Mortimer as an incentive helps a lot. Helen McCrory does a complete turn-around from Narcissa Malfoy as a woman who cannot help but remember the past with fondness despite the pain, and Michael Stuhlbarg did remind me a little of a young Scorsese with his infectious enthusiasm. Frances de la Tour, Richard Griffiths, and Christopher Lee don't get much to do in the long run, no, but what they have is nice. Jude Law and Ray Winstone have perhaps even less, but Law is exactly right as the loving father (his little pause before correcting Hugo on where his mother came from broke my heart) and Winstone is reliably Winstone-y.
-From the get-go, this is a Scorsese film, with its roving camera, lavish sets and costumes, and a deep, rich love of cinema. I actually thought the mid-stream story shift worked well: they tie in Hugo's love of movies to his father, the mystery is too irresistible for these kids to resist, and there's still the tension of Hugo getting caught by the Inspector.
-I did find it a little amusing that Lee was pretty much the only one even attempting a French accent. Maybe they tried it with everyone else and it sounded silly? I dunno, I didn't mind it much.
I think comparing this to The Muppets is a little unfair; they're completely different types of films in tone, style and what they're trying to do. They're both terrific films, and they both deserve being seen.