It looks really good on blu ray, too.
I like Richard Linklater a lot, and while this is a Linklater film through and through, what with the plot taking a backseat to inspired dialogue-based scenes, it kind of fails as an adaptation. Like drohne said, the book is kind of unfilmable, and when it does have to give a fuck about the plot, it kinda fails. The talkie scenes with Robert Downey, Woody, and Rory cochrane are all fucking gold, though, and worth the price of admission.
It's definitely about a hundred times better than Waking Life.
