There's an early review online for Lady in the Water, and it's very positive. It also carries a warning of a few smaller spoilers, but nothing big.

Over at Jo Blo they have the review that talks about strong casting and great performances, here are a few non-spoiler quotes below.

LADY IN THE WATER is a movie as much about reconnecting with our childhood as it is about narfs, scrunts (villainous wolf creatures...) and other fantastical creatures. It’s M. Night Shyamalan’s latest movie and one of his best...

...LADY IN THE WATER is the best film of its kind since THE PRINCESS BRIDE...

...While it is a movie about a bedtime story, there are darker, scarier moments that’ll sure to have you jumping out of your seat...

...despite the fact that LADY lacks a twist reminiscent of THE VILLAGE or THE SIXTH SENSE.

It is a strong review, and I have to say pay particular attention to that last line before you see the movie. There is no twist, okay? Do not go in expecting one. I would have not use the word "lacks" in that sentance, I would just have said "does not". There's no lacking here, Shyamalan has been gently moving focus from the big twist since he started it and making it more and more about the story itself, so hopefully this time the audience will accept it.

This has me even more excited about the film, let's hope that the reviews keep coming in postively.