I enjoyed this a lot. Steve Martin is still doing a good job carrying on the Clouseau legacy (at least in my book), and he's still funny in this one. John Cleese also gets a few totally killer lines. (I asked Mylene if she recognized the Monty Python guy in it, and she said she didn't, but once she knew there was one he was her guess.)
Oh, and to anyone else who might be worried because of the kids in the commercials... don't be. There is little to no sap. Well, with the kids anyway.
I figured out the plot of who was behind it all fairly early on and without even trying, but plot twists aren't what I watch Clouseau movies for... it's for the character and to laugh, and in that regard this one delivers just fine.