First of all, I too was expecting another Hero--a fantastic work of art for the action genre. I've only seen parts of Crouching Tiger Hidden Dragon, but I can imagine that it is better than HoFD.

Basic elements from Hero are found in HoFD: Great landscapes, mesmerizing cinematography, and sincere acting (I mean, if you can't understand a word they are saying, without the subtitles, but you still care--that's good acting)

What went wrong? What begins with political intrigue wanders into a love story. Worse, it's a soap opera-like love triangle. You have three characters who, I guess, fall in love with each other- for no good reasons. This movie basically falls apart after the escape from the jail (I fell asleep about forty minutes into it). It's almost as if they changed writers at that point. The remainder of the movie is about how a character is "like the wind." Ick. Also, you really have to stretch your suspension of disbelief to believe the action set pieces. This isn't unique to this genre, but since the story is weak, you can't wait for the action, and then, when the fighting does breaks out, it really wasn't that good. The beginning grabs you, but then this movie just runs out of gas.