I don't know whether this should be called a sequel. There is really no link to the previous two Golmaal movies except for the cast. But I had great fun watching this one.
Talking of a plot, there is really nothing called it in this movie. I would say that you need to leave your intellectual self back home and simply enjoy the non-stop two and a half hour action on the screen.
I hollered through most parts of the movie. I thought everyone timed their lines beautifully. I particularly loved the part when the five brothers enacted shoving stuff up the other group's you know what. I also enjoyed the love story of Mithun and Ratna Pathak. Johny Lever as Puppy (plus his two sidekicks), Mukesh Tiwari as Wasooli and Murli Sharma as Dhande were too good.
As for the main characters, Kareena Kapoor looked really good. Tusshar Kapoor was adorable and Arshad Warsi was as funny as he can be. I thought Ajay Devgn and Shreyas Talpade could've done better. But at the end of it everyone played their part well.
If you are too stressed then just head to your nearest theater and enjoy Golmaal 3. Full paisa wasool, this is my verdict.