I don't think Miyazaki is as much of a god as many animation fans do, but I really enjoy his films. Admittedly my expectations for Ponyo were low, knowing that it was targeted to very young children, but I was pleasantly surprised by it. I'm even thinking about seeing it again... which says alot for me, being poor at the moment.
It has all the mainstays of his films: beautiful art and animation, an environmentalist message which may put off some people and delight others, and great imagination of course. I was content to sit in the theatre and just look at it.
This was probably the best English dub of a Ghibli film I've seen (and one of the better dubs in general). I could tell whoever wrote the English script and cast the voice actors loved the film and cared about the final product. No "cringe" moments.
I almost hate to say it but - the movie is very sweet. Gag. No but, I walked out in a pleasant and gregarious mood. Following in Spill's lead, I'd give it a Matinee, especially if you love animation.