Long story short: I thought this movie sucked.
The movie Nacho Libre is very loosely based on the story of a real-life Mexican priest who secretly moonlighted for 23 years as a luchadore to support his orphanage. I really did not enjoy this movie at all. I guess it was supposed to be a comedy, but there was nothing in there that came close to making me laugh. The fart gags weren't funny the first time, and they certainly weren't funny the fifth time. The few marginally funny sight gags were old news as they were all shown in commercials promoting the movie.
There are two personal biases that really rubbed me the wrong way when I watched this movie. First, if you're going to make a movie that centers around something, at least be accurate in your portrayal of that thing. Their portrayal of how lucha libre matches progress and end is just flat out wrong. I can't go into specifics without giving away some major plot points of the movie but, for all of the wrestling sequences, even a marginally knowledgeable wrestling fan will pick out things that are not at all accurate.
The second issue is that even though this movie is presumably aimed at kids (while PG, it is made by Nickelodeon), it is totally disrespectful to Catholics. When an undercurrent of a comedy movie aimed at kids is romantic interest between a really hot nun and a monk, I don't want to see it. If you want to see it, that's cool...it's just not for me.
The one positive thing I guess I could say is that apparently the main antagonist in the movie, Ramses, is played by DDT Digest hero Silver King. It certainly didn't look like him under the mask, but he was billed as "Silver King" in the credits and Wikipedia backs it up. I guess that I was fooled by his stocky physique.