Finally watched it as well. I split it in two evenings, 3 hours and a half were just too much so I figured I could just remove the length issue and spread it over two evenings.
Nice and solid offering, I'd call it one of those strong albums from a band later in its carrer... you enjoy it, but the classics were something else. It was nice anyway to go through the atmosphere of the 60's, and I see it as Scorsese having some good and masterful fune one last time with his favorite actors while they're all still here.
Given the sheer length of it I don't think I'll watch it ever again, but it was cool enough to not regret it.