Keanu and Swayze could have been great. This film is filled with great action scenes and nonsensical character decisions and dialogue. Watch it for the former and don't read into the latter too much.
The surfing scenes were superb, as were the skydiving and the footchase scenes. This movie would have been better without Gary Busey. John McGinley, as much as I love him, was not played to his strengths in this movie at all.
The final showdown does a lot to redeem this movie for me. Silly premise, fun action, worth seeing once.