I saw this movie in the theatre and laughed for most of it. Some good dancing, some great beefcake and a lot of laughs. Unfortunately, I found it doesn't translate well to the small screen. I watched it at home, with a group of women and I was disappointed. I think it was the crazy atmosphere in the theatre that made it such a great experience. I also suspect that the large screen, and therefore larger than life beefcake, contributed. On the average TV, you just don't get the same effect.
That being said, with a big screen TV, a little alcohol and some good friends with a sense of humor, you will probably still enjoy it. Just don't expect an actual plot. This movie has about as much plot as an episode of Seinfeld.