Yeah, GI Joe seems to rank right up there with Catwoman and Elektra. I never saw the latter, but as for the former, it was on AMC (AMC??) and my fiancee and I decided to watch it for a laugh. Oh my god, it was bad. It had its moments of laugh-inducing ridiculousness, but not nearly enough to earn it a "so bad its good" award. We couldnt sit through the whole thing.
Incidentally, Halle Barry accepted her Golden Raspberry award for worst actress in person, at the awards ceremony. Only two other actors did such a thing, Tom Green, for Freddy Got Fingered, and Paul Verhoven for Showgirls. (one of the best movies ever made.)