Ted. Awful. Just utterly awful. I laughed maybe three times during the whole thing and almost no one else in the theater did either. If it wasn't so hot outside, I would've walked out of the theater. A horny, foul-mouthed teddy bear is an all right schtick for maybe five minutes, but stretched out to two hours it became unbearable. Worse, the film was painfully predictable. I could see nearly every joke and plot point coming from a mile away.
One other small point: sure, people might not give a shit about Ted after a while like Patrick Stewart said in the opening narration, but his existence proves that magic is real! Wouldn't that fundamentally change the nature of the world? Yet nothing comes of it. What if a boy wishes for the end of the world? Would that happen? All right, it's a comedy and not a documentary, but still it seems odd that everybody just cruises along like nothing happened.
And Roger Ebert gave this shit three and a half stars? I don't want to say he's out of his mind, but come on! Then again, he gave the first Die Hard two stars and Speed 2: Cruise Control three stars, so he's as fallible as any other critic.