I wouldn't go as far as to call Frost/Nixon boring... but it my, was it ever bland. While the third act was, in a word, good, the only reason I'd say this film is worth seeing is for Langella's performance as Nixon. The few worthy moments the film had were thanks to him.
The reason I rented it (along with the hope that I might learn a little something, which didn't happen) was Michael Sheen but considering his character's name is in the title and particularly considering his character is arguably the protagonist and the reason anything in the story happens he is severely underutilized. Frost is horribly underdeveloped and I'm not sure how much blame can be placed on Sheen, who has only shown me great things in the past (The Queen, anyone?), because the script doesn't seem to have given him much to work with. Too much is given to the idea that things are happening around him without any focus on the fact that he's really the catalyst.
Also, I'm not sure to what benefit the talking head segments were. The actors did a decent job with them, Bacon being a standout, but they simply seemed to be there to add some semblance of a 'style' to the proceedings.
I'd say skip it... unless maybe you were around for Watergate and a retread of the aftermath would be interesting to you.