I liked this movie. Granted, I almost didn't make it past the first five or ten minutes because it was so bad, but then it picked up. The plot is, well, not going to inspire any plays or anything...but, the acting was quite a bit better than I had expected. They were able to find some people that could not only dance, but act pretty well, too.
The music was catchy, and there were some dance moves that made me pause and rewind (more than once) because I was so impressed with what I saw. Not all of the dancing is great, but some is pretty cool. I don't know if all of the moves are done without movie magic, but I'd guess that they were.
Anyway, I'd say that it's worth a rental.