With one of the coolest opening sequences going, the film, and the soundtrack, get off to a flying start.
For me, it's the grungy, sleazy, exciting New York of the early 80s that is the main attraction; some great shots over the river, the skyline, and quite a few street scenes.
Others will get more from the central relationship between Nicky (Johnson) and Pamela (Alvarado) - I'm a bit long in the tooth for teenage angst, but the acting is always spirited, and all concerned look like they're having fun, if nothing else. Interesting to see Tim Curry in a less flamboyant role than those with which he is usually associated, although somehow he doesn't do much to create a sympathetic character. DJ characters in films often come across as too smart for their own good, so it's perhaps the fault of the script.
If you're in the right mood, this is a diverting and wholehearted film with some good use of evocative locations and now-bygone New York atmosphere.