I first saw this movie in the theater. I was 10. I just watched it a second time and I must say it was amazing. The music, the dancing, the acting. It is a great story and told extremely well. I fell absolutely in love with Treat Williams when I was a kid after seeing him in this movie. One of my favorite parts was when his mom kept yelling at him to give her his pants, and then finally said "how much do you need"? (money). That was classic. ; ).
Moms are the best. If you haven't seen this movie since it came out I say see it again. It's timeless. It will do what all great movies do; make you laugh, cry, and think.