I have no real beef with the kind of character she plays, but I guess if you do, that can get in the way. I've no special love for the kind of early 90s New Yorker gal in spandex, long nails and high hair, but I think Mercedes Reuhl brings that character to life in the best way and makes it possible to connect with her. She's vulnerable and strong at the same time, and very human and believable (imo). I see Mercedes won an academy award for best supporting actress for the part which I think was well deserved. Too bad Bridges didn't win any!
About the knight and other stuff ..
Supposedly, the film is full of symbolism, so there's a lot to look out for.