First up, cut the movie some slack. It's not all that hideous. It's a good entertainer and worth almost every penny, of the 100 odd bucks spent for the tickets.
The story revolves around 4 characters. Saif Ali Khan - A call center employee who is obsessed with women, this character is thrown in, to the portray the yuppie Indian youth of today. Kareena Kapoor - a slut essentially, but a slut with morals. (She's Indian after all remember) She is out to avenge her father's death and hence will trample things which cause roadblocks, men and material included. Akshay Kumar - a country bumpkin, who idol worships Anil Kapoor. I loved this character, partly because he really kicked some mean ass and pulled off stunt after stunt effortlessly and partly because he did full justice to the country bumpkin role. No one could've done it better. Anil Kapoor - a crazy Don, who wants to learn angreez, kill people, make a ton of money - you know, the usual Don stuff.
Kareena dupes Saif into believing that she is in love with him and swindles him of a ton of money, which belongs to Anil Kapoor. Anil Kapoor in turn, gets pissed off and sends Akshay Kumar to beat the shit out of Saif, find the girl and bring the two and the money back to him.
It's a typical Bollywood masala flick with the usual dose of song, dance, melodrama, childhood sweethearts and a mad villain of course. All in all, a fun 3 hours and something minutes!