I like:
"Still, despite my many disagreements with The Power of Nightmares, which sometimes has the feel of a Noam Chomsky lecture channeled by Monty Python,..."

But last part of above sentence:
"...it is a richly rewarding film because it treats its audience as adults capable of following complex arguments."

I disagree. It's not as entertaining or as brilliant as Monty Python. Instead got it's sloppy editing style, and it's similar as far as being absurd. But Monty Python would spoof "The Power of Nightmares" because TPON attempting to be serious but is just plain silly. And the only thing Chomsky really adds to it, is his insane hatred of America- which of course is more spice for the stew.
It's not a complex argument. It's an incoherent argument which is cartoonish. It might be great entertain for children, but it's too damn boring- reminds me of South Park, with Towelie and the Gamesphere:
http://southpark.comedycentral.com/video_by_episode.jhtml?episodeId=103931

Anyways the main complaint by this review, is "The Power of Nightmares" is interfering with the left's narrative, that Bush should have known about Al Qaeda:
"In his effort to portray Al Qaeda as a construct of US officialdom, Curtis misses the real story about the Bush Administration and Al Qaeda. It's not that Bush officials created the myth of a nonexistent organization but that Al Qaeda simply did not fit their worldview of what constituted a serious threat, and so they largely ignored it until they evacuated their offices on the morning of September 11, 2001."
http://www.thenation.com/doc/20050620/bergen/5

If it's a myth, how could it be wrong to "miss it".