It's a long (3-hour) movie so you're sitting for a good while. But the story of Alexander is a long one. Colin Farrell did a decent job ... I think he could have been more passionate in the role but he was okay. And let me tell you right off, the penis shot was very quick and from behind so it was more like a testicles shot. But, I'm not complaining.
It was very evident that Hephaistion (Jared Leto) was the love of Alexander's life. The scenes between the two were pretty intense, I can understand why they cut out the more intimate scenes between the 2 men. While America might be ready for Will & Grace-type entertainment, it is not ready for Queer As Folk-type entertainment in a big budget movie. That said, I think they did a great job with the homosexuality in the film.
Angelina Jolie was very good ... the others were okay as well. It's not an Oscar Best Movie type of film ... but much better than Troy. I liked it, you should check it out for yourself.