Deadly dull junk, poorly made, with Jagger seemingly on heavy quaaludes during the entire production. Ugly to look at to make matters worse, and the actors all seem to affect Irish accents, rather than Australian as the real Ned Kelly was.
If a Heath Ledger/Orlando Bloom remake can only improve things, then you know the original is awful.
Postscript: if you loved "21 grams," then you're just the sort of pompous yuppie who goes for this sort of thing. In that case, by all means rent "Ned Kelly". "Six Feet Under" & "The West Wing" are bound to be a re-run once in a while, right?