I watched it a few weeks ago with my wife, after decrying that she rented it.
IMHO, this was a movie which was confused about what it wanted to be. Ostensibly, it was a follow on to Get Shorty, but the storyline was a copy of Get Shorty more or less (open Get Shorty script: find "movie" substitute "recording industry".. taa daa!). Now of course, this MAY be related to the original material (which I'm not familair with) and if so, well, then it was a bad idea for a sequel anyway.
In addition, the insertion of the 3 or 4 musical "numbers" was mind bogglingly moronic. Want to see a movie come to a screeching halt? Have a comedy/action film insert a 5 minute song where the camera pans around the singer the whole time. What a horrible idea.
And that song number at the end, the one the singer supposedly won an award for... man, that was the worst of the bunch.
The highlight of the film was Vince Vaughn and the Rock... I actually thought the Rock was hilarious in that part (and to tell the truth, Vince is funnier here than he is in Wedding Crashers).
Anyway, it's a decidedly mediocre movie, to be sure. Thank God for the fast forward button on my DVD player.