Saw it last night, was bored, and totally vindicated in my original impressions. They didn't even manage to have any halfway decent witty dialog in between the extended (oh boy, were they extended) song and dance numbers.
I have watched the trailers for this and then been baffled by the near-hysterical anticipation it has generated in others. It looks pretty as hell, but like a triumph of style over substance. I guess now I'll go see it for the ending, on a cheap day.