I watched Braveheart again over the weekend and this is truly an excellent epic drama. But let's get one thing off the table first. I do not view this movie as an accurate portrayal of William Wallace or Robert the Bruce - nor is it what the rating is based on. Obviously plenty of liberties were taken with history. The movie is great because it's a good story well told.
Braveheart is about the war for Scottish independence in the 13th century and the historical William Wallace who led the initial phases of the revolt. Wallace is portrayed as a man of deep principle who wanted peace but wanted freedom for his countrymen more.
The large battle scenes and the leadership of Wallace are awesomely portrayed, as is the untenable position of Robert the Bruce. Bruce is caught between the Scottish nobles who prefer land, wealth, and favoritism from the British crown to freedom and safety for their Scottish brethren, and William Wallace, whom he could ally with to fight for freedom, but at the potential cost of his life, land, and status. Robert the Bruce's internal struggle was well captured on screen.
The only problem I had with the movie and story - but a minor one really - is the unlikely liaison between Wallace and the Princess of Wales. Even in a fictional account of William Wallace, this seemed like a terribly unlikely event. But in the scheme of things, this is a minor quibble.