This is a great series! Actually I could stop right here because I have already said what needs to be said but just for people's enjoyment I'll elaborate a little.
The acting is, much like in the two previous films, excellent. Somehow Mel Gibson and Danny Glover never seem to get tired of each other and it shows because their playful banter never seems to get tiring to the audience. Mel Gibson is a class actor and this time around he develops the character of Martin Riggs even further than he did in the second film. He is so good at portraying emotions that the audience genuinely feels with him. When he is angry you feel his anger and when he is sad you feel sad, you get the picture. The fact that he is so versatile shows in the contrasts of the character. He is both great in action-sequences and in romantic sequences. As for Danny Glover he also does a great job in bringing his character further and he really does in this installment because you get to see the more negative sides of the character this time around. In the first two films he was the character who didn't evolve much but took pride in it. This time, because retirement is rearing its ugly head, we get to see, what I must suppose was, the facade stripped away and see Murtaugh in his raw, pure form. Joe Pesci also returns this time for the comic relief and he is still funny. There is just something about the character of Leo Getz that is incredibly entertaining. However, the best performance is perhaps done by Stuart Wilson, an incredibly underrated actor who has sadly never really achieved a commercial breakthrough. He is the villain of this film and is perhaps the best villain of the series simply because he has more depth than any other villain in the series. He is also given considerably more screen time than many of the other villains so he really has a chance to shine. Rene Russo appears in this film as Riggs new romantic interest and she may not be the most gifted actress ever to be on film but her chemistry with Mel Gibson is undeniable and her on-screen presence is pretty amazing considering that she is a new entry to the character gallery.
The story of the film is the weakest out of all the series (yes even the fourth one) and sometimes it kinda drags. Mainly, however, the story is still highly entertaining and funny. The best element of the script is the fact that villain is an ex-cop this time around and that does that the heroes can hate the villain even more because he is, aside from being a mean bastard, a traitor, almost a symbol of the back-side of the medallion.
The action of the film is just like in the two previous movies absolutely brilliant. The action is highly entertaining and well made and Mel Gibson is excellent as an action star as well as many other things.
All in all a great entry to a great series.
7/10
