Definititely a YAY.
I first saw him in Patriot, and he was excellent in it. Then it was followed by Knight's Tale, which didn't require much in terms of acting but proved that the guy has plenty of natural charm and screen presence. He has a "star" written all over him.
But what really made me respect him was that after the success of Knight's Tale he realized that people see him just as a another pretty boy on the block. He refused to do anymore mainstream Hollywood films (he got offered particularly plenty of big action movies) and chose the indie / arthouse route instead. He publicly stated in interviews that he wants to be an actor, not a teenage heartrob.
And now, after a few years in smaller, more serious films, he finally is getting the respect he deserves. Good for him, I say. He sticked to his principles and succeeded because of them.