Watching this film, it seems like Saifu Baba took his Lux Cozi advertisements quite seriously: though it was touted to be the Indian James Bond film, everything happens "Badey aaram sey". And no gadgets !!!
Agent Vinod falters primarily because its everything which a Bond film is not - The lack of sufficient thrills, poor characterization (what do you say when an actor of Rajat Kapoor's caliber is simply wasted in a blink-and-you-miss-it role), a feeble abla-naari type Bond girl and an agent who lacks the chutzpah to actually look as cocky and suave as he wants to. He also has a bad-beard-day all throughout the film.
The flick does get exciting twice - once in the pre-title sequence and another time during the climax which precedes the long drawn ending. Otherwise, for its 2 hrs and 42 minutes of running time, the hero is simply hopping cities for no apparent reason. As if its a promotion for increasing global tourism. The villains are too many and too stupid, which leaves you with very less time to concentrate or flinch because of one who is really, really evil. Abu Nazir, Kazaan, Colonel/General, Businessman, Taimoor Pasha, General with one bad eye, random lady, etc.
Skip this one - unless you want expert advice in handling customs in 12 different countries. Travel Agent Vinod can help you with that.
PS - I thought that the other girl in the Mujra song was way hotter than Kareena Kapoor ;-)