I just got back from seeing this movie: very good. Much better than "Hellboy" by the same dude, although the look was similar in parts. "Pan's Labyrinth" was very eerie and sort of disgusting at times, but also very engaging. The main villain had a watch that was his most important possession. I thought the watch was a great touch. It explained him. Yes, he was a horrible person, but the watch was his personal justification for it all.

Just a really good film.