This is the first time I'd seen the movie since it was on VHS, and the first time since really getting to know Lynch's other work. Its structure is similar to Mulholland Dr., except the link between the two halves isn't nearly as plausible and doesn't make much sense. The loop is kind of cool, once you realize how everything links up, but that doesn't help it seem less ridiculous. Technically, I couldn't find any fault with it, as it was beautifully shot, and Lynch's sound design was awesome as usual. The atmosphere was fantastic throughout, and it really is 100% noir. But I just have a hard time caring.
Some aspects of it didn't age well - mostly musical, like the Marilyn Manson and the Rammstein stuff. I'm not sure the intention of including Manson in a porno within the movie was so that the viewer would say "Hey, look, it's Marilyn Manson!" He was just an unknown freak back when the movie was in production.