The bad news: This story of a bunch of New Yorkers on New Year's Eve, 1981, is so trite and stupid that it doesn't merit any attention whatsoever. The cast (playing uber-NYCers) are uniformly grating and obnoxious -- and Courtney Love as ringleader makes it even worse.
The good news: 200 Cigarettes is filled with great 1980s music hits, so you don't have to pay any attention to the movie whatsoever.