It sounds like a rehash, but not necessarily a bad one. Something I'd watch if it came on, but not pay to see.
Why are there always obnoxious sidekicks? See, in Shrek Donkey was okay because they acknowledged that he was obnoxious and made a joke out of it. But here, it sounds like the sidekicks are just straightforward obnoxious.
Also... is anyone else a little sick of CGI movies? I just don't find them visually appealing. They don't repulse me, but I don't find them interesting at all--unlike the old art, which was so pretty that I'd stare at it so hard I completely lost track of the plot.