If you consider yourself a history buff and "know" that what's portrayed isn't what really happened, all you have to remember is that the movie was based on Emilio Aguinaldo's memoirs. So don't bother waiting for anything that would glorify Emilio's enemies, or for anything that would show them in good light. Heck, don't be surprised if they were omitted from the movie altogether!
If you're going to yak about inaccuracies regarding guns, ammo, mustaches, haircuts, language, or even the sneakers that can be seen on a few shots, you have to remember that Filipino movie production don't rank in any Top 100 or Top 200 (maybe even larger) list of prop-making accuracy. They could have put an M16 in the huge fight scenes and no one would probably be the wiser--unless you watch it on DVD and you hit PAUSE in the right moment, of course. But hey, consider them Easter eggs.
If you're going to complain about inaccuracies in location, you have to remember that the movie outfits in the Philippines don't have huge studios where they can fake all sorts of scenery. They have to rely on outdoor locations that are "believable" approximations.
So! Taking all of the above for granted, the movie itself has its merits, if at least to get Emilio Aguinaldo's side of history. And the actors all did their parts quite well. You have to ignore the bit players who broke the fourth wall, obviously.
Let me tell you something I really liked, though. That Spanish lisp! It reminds me of Spanish class which I really hated back then. I sthill hate learning it to thith day! Harharhar