Director: Paul W. S. Anderson, 2004
Pros: great special effects, a surprisingly intelligent frame story (I was expecting action and got a decent backstory for the alien-predator conflict)
Cons: there are too many humans to get to know/like them before they start dying (something the Alien movies and the original Predator (I haven't seen the second yet) did well, so when the characters die you're upset), the alien gestation period is shortened to fit the timeline of the film
Charles Bishop Weyland, of the Weyland-Yutani Corporation, heads an expedition to Antarctica to discover the cause of heat signatures his satellites have discovered. Unknown to him, a ship of predators have engaged their 100 year hunting grounds. Their captive alien queen has started breeding eggs. All they need are human hosts to gestate their prey.
But the humans inadvertently start the hunt early, putting the predators at a disadvantage, and giving the aliens an unanticipated edge.
The tagline from the film, "Whoever wins… We lose." says it all. The humans are caught in the middle of a conflict they can't hope to survive.
Here's the trailer: