It might lack an award winning script, but the film is still able to capture the horror of the legend and also make it beautiful looking with top notch production design.
This version is a little different then Washington Irving's 18th century classic. In this one Ichabod Crane (Johnny Depp) is no longer a school teacher but a New York detective. He is sent to Sleepy Hollow to investigate a series of mysterious deaths where the victims are found beheaded. When he arrives he learns that the locals believe that murderer is the ghost of the Headless Horseman.
Like I said above, this movie is beautiful to look at but it lacks any real emotion. In my opinion that didn't hurt the film for me, because going into the movie I wasn't expecting a deep story. I knew at best it was just going to be a ghost story.
So if you could get over that the movie takes a lot of liberties with the original source material and the script lacks, then you'll have a really good time with this one.