I know I'm going to be flogged for this, particularly as I'm Indian, and as a rule, we all consider Ash the most beautiful creature who's ever been created.... but, I somewhat agree with the statements above. I think she's beautiful, and there's certain pictures/poses where she can be completely arresting and look utterly divine. However, a lot of the other times, I just think she's really pretty. And a lot of people I know find her even more beautiful because she's an Indian with such light skin and eyes- seeing as that's not the norm for us, we immediately place her in the "Great beauty" category.
I do think she's very stunning though, and those who've seen her movies tend to love her even more. When you see her in action, laughing, dancing, etc. and get to see her talent, I think she becomes just absolutely gorgeous at that point. Plus, her personality, her morals, values - all those add up to make her the icon she is.... so it's not always her looks, necessarily, but the personality and character that accompanies it.
On another note, a lot of people mention that she wears a lot of makeup. Perhaps that's true by some standards, but if you look at Bollywood, Indian TV shows and a lot of time just Indian women in general, we dont follow the "less is more" rule. Maybe it's because we're more olive/darker-skinned and darker colored in hair and eyes, but we almost need more makeup and brighter colors to accentuate our features. For examples, blue is the ideal eye makeup color to emphasize brown eyes.... so we use it. No prob. Same with lipsticks, etc. I think that's why a lot of times it seems as if she uses "a lot" but it's not that much by our standards, really. It's pretty typical.
That also goes for her choice in clothing which is often debated. We're a naturally showy, gaudy people. :-) Look at our traditional clothes - the more embroidery and gold and colors, the better. That sentiment translates into the Western clothes we wear as well... it's harder to choose a simple Rochas black gown when we usually wear so much.... MORE. So she adds details, colors, patterns, etc. to her clothes. Granted, it may come off tacky, etc., but I think there's a cultural reason behind her choices.
Lastly, I realize a lot of my statements are sweeping generalizations of Indians, the women and their features. I apologize and realize, obviously, that we're a very diverse nation. My comments do not apply to every single Indian, ever. Just a good majority. ;-)