It is actually.
Paints Robin as a disgruntled soldier returning from the crusades, who ends up in Nottingham by chance. Discovers a bit amout his past he never knew (Hollywood cliche no 1), finds out he's a natural leader (cliche no 2). Bases itself at the start of King Johns reign (1199 IIRC) but starts to reference the Magna Carta (1215), so Hollywood history lesson there.
Despite that, its well acted, and looks nice. Looks to be teeing up for a series.
Miles better than the Kevin Costner version (again, another lovely accent)