I downloaded this in about half an hour via bit torrent.
The forty minutes i spent watching were not wasted, don't get me wrong - it's no Empire Strikes Back - but is worth watching. It follows the more of the same route that most die-hard fans lust after. More space fights, more glib dialogue and more lightsabers.
Much of the dialogue will be instantly recognisable to fans of the original movies. Having said that, it does not detract too much from the overall feel of the film as it feels familiar.
The plot sits fairly well within established parameters but of course is not part of the official star wars universe.
Don't go into this expecting a lucasfilm production but it'll raise a few smiles. Let's be honest - for twenty grand this is an amazing piece of work.
Enjoy (it is free after all!).
