The movie was very entertaining, with some really choice parts that will get you laughing like a hyena. I mostly laughed at Po eating the peaches from the Sacred Tree and washing his armpits from the Sacred Lake (sorry, am not bothering to google what they were really called).
But... it didn't really offer anything new. I'd prefer Nacho Libre over it anytime. Or Shrek. Or Finding Nemo. Or Ice Age. Or Monsters, Inc.
I'd also even prefer those movies from a decade ago of little Shaolin kids, with the fat boy mistaken to be the next Dalai Lama just because he went after the Dalai's beads (which he thought were food).
So yeah, I liked it but I wouldn't have missed anything if I didn't watch it.