Robin Hood: Prince of Thieves is an excellent adventure, with a bit of silliness, some romance, a few laughs, and plenty action.
Kevin Costner is at his best. It might not be Morgan Freeman's greatest role, but he plays it admirably well, with a good accent, a nice straight-face funny attitude, intelligent, and full of vigor. He represent a strong black male figure anyone can admire. Alan Rickman is excellent as the evil and silly sheriff. As his despicable sidekick, Michael Wincott is just perfect. Christian Slater was good, but disappointing in his dramatic scene. The rest of the cast was on target.
Great photography, nice score, good editing, interesting story. beautiful sets, nice costumes. It has everything to make for a great evening.
Now for the little negative bits. Beyond the fact that Robin Hood is a mythical figure, the movie is in no way historically accurate, and the same can be said of the hair styles.
Don't take it seriously, and you'll enjoy it.