As Teddy P. pointed out a little while ago, Vicky Cristina Barcelona has one of the worst uses of voice-over in recent memory. The narrator just repeats what you can SEE happening on the screen.

It's not as bad as your example, but The Descendants has awful voice-over.

Horrible Bosses. Uses tons of expository voiceover from three protags at top of the movie, but it's not funny and doesn't give us a running start in a good way. Then at the end, the voiceover is just from one character, if I recall correctly. Just felt sloppy and cheap.

THis has to be one of the best examples of how bad VO can ruin a great film: the ending of Blade Runner, the original theatrical edition. http://www.youtube.com/watch?v=4fCeH-WnJYM