This review also contains a spoiler of the first movie -- so if you haven't seen either movie and want to but don't want the spoilers, please don't read this review!
While this movie is supposed to be about Christian and Kathryn meeting for the first time, the movie is a poor copy of the first Cruel Intentions. The actors that they had portray Ryan Phillippe's Christian and Sarah Michelle Gellar's Kathryn are very poor substitutes indeed. Neither can pull off the smarmy, snooty rich-kid attitude that the original actors did. It's absolutely appalling that some of the dialog was verbatim -- not so much between Christian and Kathryn, but if you listen closely enough you'll recognize it. There are also inconsistencies in the plot - if this were truly the first meeting of Christian and Kathryn, then why is it that Christian fell in love with a girl at the end of the movie? He supposedly was supposed to be in love for the first time in the original movie (with Reese Witherspoon's character).
Also, the tie-in with the photography/"You could be a model" comment at the end was totally lame and didn't add anything at all. Overall, this movie was a waste of time. I can't believe they made a Cruel Intentions 3.