Very funny dialog-and-antics driven movie - but mostly dialog. Not the typical antics like "I have to lose my virginity this summer", or trying to see a girl naked, or get a date with the hottest girl, etc. Basically it's unlike the movie you think it's going to be. This may be because the box cover has NOTHING to do with the movie (not sure if this is a good or bad marketing ploy or why they didn't just use something from the movie).
It's a sex comedy based around friends just out of college with an older friend and some high schoolers. It has a few of the generic characters from these types of movies - the older guy who still hangs out, the hot high school girl, the geeky kids - but the main characters are somewhat normal - and are just trying to find their way in life while they reminisce about the good old days. And isn't that what we all do when we are settling down - we don't make new fun as much as talk about the fun we used to have?
Drawbacks - too much of the action takes place in 1 house. That's the only big one. Also could have sacrificed some of the stand-alone comedic scenes for a little more story, but that's not too big.
Positives - Very, very funny. Writer has a keen ear for dialog and humor. The actors, generally, are very good. More than half are memorable. Soundtrack is better than most movies, and there are a lot of songs since there are a lot of party scenes. It looks good - by that I mean, the quality is better than most lower budget comedies I've seen.
It's funny. Period.