The movie wasn't really all that bad. Considering that the original designers of the Aliens and the Predators(as cultures, I mean) weren't making the movie(I'm assuming this because I've only seen the Predator movies all of the way through), the director of this movie had to "wing it" to decide how each character would react to the situations. As for the Predators being incredibly weak, it seems to me that this was a "rite of passage", which is stated in the movie. So these hunters are probably going through their first live mission. As for making the weapons for Lex, there could be two explinations for that. First off, the humans built and sacrificed themselves for the Predator's cause. As a race, they might feel as a sort of father-figure to the humans, thus not really wanting to hurt them. The second reason, the Predator could've just been using her as bait, but I think the first reason is more apliccable. It's also possible that because she killed an alien, he found her worthy.
About character development, there is a fair amount. First off, you see that Lex has very strong feelings towards her team while they are under her supervision. The photographer(I think he's Nelson from Blackhawk Down) and the other guy from Gladiator made sort of a "Brotherhood Pact". There's plenty more, but I don't want to give it away to people who's curiosity is getting the better of them.
I don't see what's wrong with the predator running away from the explosion, they aren't a Samurai culture, there is nothing wrong with running away to fight another day(or 10 minutes). I got the impression that the Queen getting loose was a big mistake, and that the predator(we'll call him bob, cause he's ugly;-)) needed to tell the rest of his species that they need to destroy the temple before the aliens get out of hand. The way the queen fought could be explained by it's blinding rage at having been held for so long and having so many of it's kin killed. Also, it was being held, and it couldn't move around. This lack of exersize, compounded by the fact that it'd just given birth, may also explain why it didn't fight as well. Hope you'll pay attention to the movie, and perhaps think about things a bit before you go running your mouth.
EDIT: Instead of arguing with me or correcting any grammer/etc on this forum and polluting it, just PM me or call me. I repeat, listen and think before you make a fool of yourself...again