I've seen this movie, when I was traveling in Brazil. I found it difficult to really understand Brazilian culture and society, because it has so many regional and class differences. To see this movie in Sao Paulo itself was a revelation. It shows something of the everyday life of many Brazilians. On the other side, it is sometimes a little bit over-dramatized. And that's the only negative comment I have on this film. It's sometimes too much, too much sex, too many murders and too much cynicism for one film. The director could film some things a bit more subtle, it would make the film more effective.
Despite this I liked the movie and the way the story unravels itself. The characters are complex, and very much like real-life people. Not pretty American actors and actresses with a lot of cosmetics, but people who could be ugly and beautiful at the same time. That makes the film realistic, even when the story is not that convincing.