I would give this 3 1/2 stars. There are truly moments of satirical brilliance in it but isn't as consistent as Bruno, Borat, and Ali G in da house. The speech given at the end when our main character finally changes really hits hard.
Sacha Baron Cohen's outrageous characters are perhaps better suited to a sketch format, but his latest creation, THE DICTATOR, offers some moments of inspiration. Following North African dictator, Admiral General Aladeen, as he goes to address the United Nations, the film is a gloriously inappropriate comedy that unfortunately drags a bit when stretched into feature length.
One of the trailers I saw before this film was for an Adam Sandler comedy called "That's My Boy", where people repeatedly got hit in the face and the balls and it was called funny. Yawn. You only need to be this offensive in order to make it funny.
Baron Cohen is a better performer when the comedy is unscripted but there are some fine moments in this film. Whilst it looks like it plays to the lowest common denominator (and is its often very broad) there is also the usual razor sharp satire underneath. Shouldn't be written off entirely.
This is the turning point for me in terms of Sacha Baron Cohen going from good and important to bad and important. I still feel like he is a comedian to watch just because of what he can reflect about the world. But he's also pretty unfunny now.