More mud, blood and betrayal than Olivier's version, or put another way, more "Chimes At Midnight" than "Alexander Nevsky". Branagh's take ruefully weighs the cost of blood versus glory indeed, but it has its moments of exhortation and glory, as befits the source material; Shakespeare's play was always about providing propaganda for the Crown and the emerging modern nation state instead of historical veracity.
I thought this movie felt a bit like a television production made by an actor-director who suffers from severe narcissism. Sometimes Branagh's performance was a little laughable. I mean sure it fits the whole theater frame but still. Yet it is not without merit. I am sure there are plenty people who'd enjoy this, the average rating speaks for itself.
I didn't feel Branagh was the right choice for Henry the Fifth, I just didn't see him working in the role. The feel of the film overall was one of a stage production on screen, rather than a proper adaptation. Those tropes that work well on stage don't necessarily translate well to screen. The chorus (Derek Jacobi) was an unwelcome touch, who grew to grate on me with every appearance.
Hal's not evil, exactly, just a sad and sanguinary victim-hero of "adulthood" (note that the victory at Agincourt had zero long-term benefits for perfidious Albion). Branagh pulls off the plum gig (barely), but the real star here is Brian Blessed as Exeter: an immense badass with brains, teeth, and brawn. It's no wonder the camera often cuts to his merest facial expressions: young Branagh knew Blessed had his back.