Yes it's out, and it's about as good as one can realistically expect, ignoring the director.
It's a film of a pretty poor game as far as story goes. It may be fun to play, but it's hardly a top notch narrative experience.
Uwe Boll may seem to make terrible movies, but really he just picks terrible things to make into movies. Games, often enough, aren't really great source material for movies. Look at all the non-Uwe Boll films out there and work out how many are any good. Even Max Payne was pretty terrible as far as a film of the game, and that had nothing to do with Boll.
Before you blame Boll, look at the fact that generally films of games suck, much like games of films suck.
But it's a pretty bad movie, because Far Cry is pretty boring as far as the story goes, and Boll is by no means a top tier director. He (unfortunately) takes games and makes films out of them, without doing enough to make the story worthwhile. His Postal adaptation was pretty much Postal in film form, but Postal had a pretty terrible story/concept too.