As you probably know, this movie has not always been well-received. But, speaking as a die-hard fan of romantic comedies, I think those of you who love this genre should definitely watch this movie.
Most people who enjoy romantic comedies will probably admit that, though we love them, many of these movies have plot holes here and there, or at least admit that the likelihood of such things happening to real people is questionable. So, with that already in mind, a viewer often falls in love with one of these movies because: a.) they love the actors, actresses, or director involved, and/or b.) the certainty that everything will probably turn out okay in the end (even if sometimes the movie's resolution is not what you'd expect). If you fall into one/both of those categories, you should see LIFE OR SOMETHING LIKE IT.
One of the reasons I think this movie is great is because Angelina Jolie and Edward Burns (as well as Tony Shalhoub, as the street prophet) are such great actors, and their banter and chemistry are highly watchable. The supporting actors & actresses also add to each scene they're in, especially the guy playing the sound technician who works with Jolie's and Burns's characters when they are out on assignment.
I'm not someone who can tell when a movie is badly directed or superbly directed; I just know when I leave a movie happy for having seen it, or when I've felt the loopholes left in the finished product are way, way too big to ignore. So, having warned you of my novice critical skill, I think the director did a great job. (In his commentary on the DVD, he explains that this is one of the movies whose production was a bit rushed because of the expected actor's strike that the industry feared at the time. So, I think he may wish he could have tweaked things here and there, if he'd had more time.)
Nonetheless, you should see this movie because it will still grab your heart and make you think about what is important in your own life, while still giving you that romantic comedy "buzz" that will put a smile on your face and joy in your heart.