I spent a lot of enjoyable time during the weekend kicking the movie around in my head, particularly the kicks themselves. For instance, I'm still not sure why Arthur wasn't kicked out of the hotel when the van drove off the bridge. Can the kick be intentionally ignored? If anyone could do that, I suppose it would be Arthur, who seems both very determined and highly professional (at least when he wasn't stealing kisses from Ariadne).
And then there's that damned top. Was it about to fall or not? It was certainly wobbling. I walked out of the theater wishing they hadn't shown the wobbling, so that the viewer could fully make up their own mind. But in the end I decided that it doesn't matter if it keeps spinning. What matters is that Cobb set it down and left it there, a gesture that clearly shows he's accepted the reality that he's in. Besides Saito totally handled it while they were talking in the beginning, so he could have simulated a false replica.
And I'm pretty sure the kids were dressed in the same clothes as they were in his memories, although I'll need to see it again to confirm that. So, yeah, I am inclined to believe that Cobb is still in a dream. (I also kind of like thinking that Mal really did escape back into reality by jumping off that building and that she hired Arthur and the others to go in after Cobb, with the intention of either rescuing him or incepting him with a dream level he'd could find peace in. Although, admittedly, there isn't much in the movie to back that particular theory up.)
I was surprised for a while that Nolan didn't make the dream worlds more dreamlike, but that was pretty much necessary to pull off the repeated "Am I still dreaming?" cons. And there were a few points where the audience couldn't really know the consequences of what the characters were doing, which drained a bit of the drama. The only thing that really bothered me about the movie, however, was there were way too many shots of people in snowsuits shooting guns in the third level of the dream. Those parts made me feel like I was trying to feign interest in other people playing some multiplayer video game.