This is a romantic comedy, so it's really a fairy tale, but an unconventional one. Cinderella, rather than living in the ashes, lives in an overdecorated castle in the suburbs with a good looking husband who's no prince. She does find her prince, but he's not that handsome. Instead of a castle, at least initially, she gets a tiny walk-up in Manhattan.
Pfeifer, Stockwell and Ruehl lead a cast of fully realized, if a little over-the-top, characters.
Demme reaches the highest level of movie-making in my mind. He creates a world I want to move into - a Manhattan neighborhood and street life teeming with life and community.
I wish IMDb linked to reviewers' other comments. I'd like to know what other movies the people who panned this one hate. I am always looking for a lot of laughs and for nice places in which to "live" at least for an hour or so.