I have a deep liking for this film despite it appearing deliberately less 'polished' than the other Fred and Ginger films, not to mention the slightly problematic casting of Harriet Hillard in the lead romantic role.
Once again with these films, the plot is of a minor consequence - Astaire plays a rather unlikely sailor (who happens to be a brilliant former hoofer (of course!)) and Rogers an aspiring performer in a seedy dime-a-dance music hall. Although their relationship is bright and fun to watch, they are bogged down by an un-involving main story of Hilliard and Randolph Scott not succeeding in finding any chemistry between them.
Although it was a last minute decision, Hilliard was rather miscast in this as she doesn't have the screen presence to give this film what it needs despite being sweet and likable throughout. The film may have benefited in promoting Lucille Ball's wise-cracking worldy brassy character to a larger role as she simply shined in every small scene, and would have made a great Helen Broderick-type side-kick to Rogers in this kind of bright film (See 'Stage Door', made the following year, for an example of wonderful scenes between these two fantastic actresses). That Scott's one-dimensional Neanderthal character eventually falls in love with Hilliard's is even harder to believe than Astaire being in the Navy!
Now onto the important part, the singing and dancing: Nothing more can be said about "Let's Face the Music and Dance" other than it is brilliant and moving and perfectly executed and I often finish watching that scene with tears in my eyes. However other songs in the film deserve some recognition as well; "I'm putting all my Eggs in One Basket" is a lovely example of the comedic instincts of Astaire and Rogers, and almost pokes fun at their reputation of bursting into spontaneous, perfectly synchronized dancing. Other highlights are "I'd Rather Lead the Band" and "Let Yourself Go" which show how these two talents could perform as brilliantly alone as together. I nearly forgot to mention that this is one of the few (if not the only) time we see Astaire brilliantly play on the piano; It seems this man's talents were endless!
Overall, I actually prefer this to 'Top Hat' and 'Swing Time' (although only just), as it is more earthy and performed so enthusiastically by all involved, it is hard to dislike the fun factor.