I love Brazil, no argument there.
I don't think V was pro-terrorist. V declared war on the government and attacked government installations and high ranking government officials. The government is a valid target in a war. Yes he secretly planted bombs, but when you're one against many frontal assaults don't work too well, Navy SEALS tend to be a bit sneaky too. As for new ground it's over worshipped, the primary goal of a movie is to tell a good story well and hopefully make some money in the process. Some stories require new ground to be broken, most don't. John Wayne never broke a lot of new ground, but most of his movies are still awesome.
I loved it. I was a little disappointed that the book's story was dumbed down for the movie. The book left V a very morally ambiguous character, one you could love and despise at the same time. It also raised the question, what is terrorism? Some of V's actions are questionable, but can they be justified, given that he's fighting against an oppressive government?
That said, the movie is still more intelligent than most of the Hollywood dreck out there.