It's a terrible movie, but it may be one of the best worst movies ever made. Despite the overacting and the length, the sheer spectacle of it is very well-done. I try to review movies on Rotten Tomatoes like I'm a real critic, though, and so I truly can't recommend a movie this egregious. Oliver Stone has made much better movies in his day. Let's all just pretend that he never made this one. It's a cold, repulsive turkey.
This film came in the wake of several other historical epics. Kick-started by the success of "GLADIATOR", itself paved the way for by "BRAVEHEART", and released amidst other such films. Particularly within that year alone Wolfgang Petersen's "TROY", Antoine Fuqua's "KING ARTHUR", and Ridley Scott's "KINGDOM OF HEAVEN". And regardless of whatever one may think of it's overall quality, it should be noted that the film is probably the most historically accurate of them for what it's worth. Which from a certain perspective can be seen as both its greatest strength and it's greatest weakness. In all the ground the film tries to cover concerning his life it could be said that the films reach exceeds its grasp.
Seeking to cover his early childhood, to his schooling, to his ascension to the throne, to his conquests, to the political strife among his ranks, to all f his romantic relationship, and into his death. However I do think there are some truly great scenes here. Such as Alexander's rousing speech to his men before the Battle of Guagamela and Philip's talk to his son about the Gods and Titans. This especially came to be a problem for those who came into it for the action, as there are really only two battle sequences. One towards the beginning, and the other towards the end. Given all the other story it had to cover, it's not hard to understand why but can be seen as disappointing to some.
In recent years the swords and sandals epic is all but dead again as it were before the all to brief early 2000's revival. This film's failure playing a big part in that. But we have been hearing of similar project. Already begun is an intended trilogy of films about Genghis Khan directed by Sergei Bodrov and Vin Diesel keeps talking up an intended and from the sounds of it quite ambitious trilogy about Hannial the Conqueror he's hoping to make. Both of which are rather unprecedented in this genre. Whilst film series' are very commonplace with Hollywood it's never been done in the Historical Epic/Swords-and-sandals genre. The one exception I can think of being 1954's "DEMETRIUS AND THE GLADIATORS", the sequel to "THE ROBE". Though several attempts to figure out a sequel to "GLADIATOR" it never happened, and if you choose to count it the book sequel to "DANCES WITH WOLVES" entitled "THE HOLY ROAD" has been discussed, but that's about it as far as I'm aware of. And it all really depends on how big the story is. The two most popular of the modern historical epics, "BRAVEHEART" and "GLADIATOR", are structured in such a way that they feel like they each fit perfectly in one film.