For what it is--a slice-of-life of a group of people, trying to make the big-time and at least be able to say that they were on Broadway--it's a fine work. I admit I haven't seen the stage play--which many sources say is far superior to this filmic adaptation.
I'm rather surprised that: a) Michael Douglas gets star status here, or is even involved. He doesn't dance here. The film would have worked so much better if it showed his character showing some dance moves and getting across to the dancers what he wanted. Both his character would have connected better with the dancers, and he would ha... read the rest.