As a serious - probably too serious - Dylan fan, I feel that for the sake of my credibility, I should immediately concede that the movie was perfectly dreadful. Confused, poorly staged, and boring as hell. The only moments of drama came in Bob's scenes. His discomfort was so palpable, it was nearly impossible to watch without growing queasy. In other words, a terrible experience... for which our greatest songwriter is largely responsible.
The accompanying soundtrack of "Masked & Anonymous" does, I think, go a great distance towards making up for the disaster of the film. Dylan and Co.'s super-tight performances of "Down In The Flood" and "Cold Irons Bound" are proof of what dedicated fans realized long ago - in the last 12 or so years, Bob has been performing at the highest level, a real golden era of touring.
Meanwhile, the Italian version of "If You See Her, Say Hello," translates beautifully, Los Lobos does a bang-up "On A Night Like This," and Jerry's "Senor (Tales of Yankee Power)" is very nice.
One does wonder at the absence of the outstanding version "I'll Remember You" featured in the movie, but we'll have to hope it emerges elsewhere.