I won't get into the story too much as I don't want to ruin it for anyone, but the basic plot is that the Kremlin in Russia is bombed by a terrorist group and IMF is framed for it. Because of these actions, the president decides to activate Operation Ghost Protocol, which essentially means that the entire IMF organisation is disavowed, meaning Ethan and his team are on their own, and like the tagline says "No Plan, No Backup, No Choice".
The story I found to be quite solid. Nothing groundbreaking but enough to keep the interest of your average movie-goer.
The performances were generally good all around. Simon Pegg was enjoyable as Benji and Tom Cruise is always great as Ethan Hunt. Jeremy Renner and Paula Patton also gave some great performances.
The action sequences are where the film really shines. Not all scenes were great, I thought the bombing of the Kremlin used some very fake looking CGI which made it more humorous then intense. Also, some scenes seemed a little too far-fetched and made me think that Tom Cruise must be made of steel or something. But if you try not to look into this too much, then chances are you will enjoy the action. The fight scenes were done very well, incredibly brutal and realistic looking. The sound for this film really helped as you could almost feel every punch and kick as well as the explosions. The greatest scene for me was Ethan climbing the hotel in Dubai, the worlds most tallest building. Shot in IMAX as well, I almost felt like I was right there next to Ethan looking down from above. Huge credit goes to Tom Cruise for performing this stunt himself!
Overall, I found the film very enjoyable. I enjoyed it a lot more than the 2nd and 3rd entries, but the 1st has always been the best one for me. I would have given this a perfect 10 but it loses 2 points for the some of the action scenes being a bit silly and unrealistic.