Blackbeard is a decent looking film considering it's made-fot-tv roots but that's about the only good thing going for it. Blackbeard is made out to be an evil pirate of the worst kind but you don't really see any evil until the the later part of the film. But that aside, nothing really happens in the film. There are a couple good ship to ship battles but outside of that, it's just people wanting to find a treasure but not really having a hard time doing it. The only "trap" is a bamboo snare and the "witty" banter the film tries for, isn't witty and almost doesn't count as banter though it is close to gibberish.
If you're looking for a straight up pirate film similar to the old films of the 50s, Blackbeard might be your thing, just don't expect too much from the actual story.