I pretty much loved Now You See Me, as a big fan of most of the actors and magic and illusions, it was quite pleasing to see a movie about illusions. I think the plot is generally quite straight forward and the ending elaborates on what has been hinted at during the movie. I like Jesse Eisenberg's character which pretty much resembled Zukerberg in The Social Network. The magic trick were good too and its good to have Morgan Freeman explained what happened once again.
The biggest flaw in the movie also (and painful to watch) was the magic tricks. It was painful to see that most, if not all, of the tricks were edited using CGI or camera tricks. Even the first card trick was edited to make our card choice obvious. I mean that's just lame on soo many levels. But this is Hollywood I guess and using real magic tricks might have been difficult, dangerous or be unappreciated by the public. (The same way the Mandarin in Iron Man was dumbed down for comedic purposes and to appeal to the majority non-readers of the comics). The actors are actors not magicians also so it would take a long time to train them.
Also, mark ruffalo is awesome, but the character was lame. I liked the ending and understood it, but it was an unreasonable way to go about it. The least I ask for is a more flawed character where we see obvious hints that there's more to him than meets the eyes, especially when he interacts with the "horsemen" or is alone. That would have been good and give a "i knew it" sense in the audience.
Overall, i think it deserves it's IMDb rating of a pretty good movie.