This is the second movie based on the life and times of ultra hung porn star, John Curtis Estes, better known as John Holmes. Boogie Nights is also roughly based on his life. Maybe someday someone is going to do a movie on the life of Tommy Byron instead.
The problem is, that the story is not very well told. There are many Law & Order episodes that have more twists and turns than Wonderland, and the director never gets the criminal case going with any kind of gusto. Val Kilmer has two problems - he is not nearly as hung as Holmes is (and no prosthesis this time around, unlike in Boogie Nights), and he is much better looking than mope Holmes.
The director does not introduce one single likable individual among the cast. The racist, immature lowlifes he hangs out with, or his wife, and the police don't get much in the way of characterization.
The best part of the movie is Eric Bogosian telling Paris Hilton to "get lost".
Having said all that, anyone interested in the sleaziest side of the porn business in the 1980s or true crime shouldn't miss it.