I liked this movie quite a bit; having said that I have some reservations.
This movie was definitely aimed at the (relatively) over literate rock snob. all the main characters were either reading Russian novels or quoting Shakespeare, they all had impeccable taste in rock music (Velvet Underground, Big Star albums, Husker Dude shirt, Bowie, etc.).
All the other folks were on the other end of the scale (tired old disco to show how shallow they were, Judas Priest concert goers, Loverboy cover bands, and no prospects for their future), throw away trash as far as our heroes were concerned.
The "villain" character was decidedly not really a villain. Just a guy in a loveless marriage whose only transgression is not knowing the title of a Velvet Underground song (asshole!).
A little too precious, for my tastes. The same way that Watchmen catered to the comic nerd, I felt that this movie catered to the rock snob/grad student nerds. I guess the difference is that those nerds won't complain when a movie is aimed at them.
Again, I really liked this movie.
I guess I just felt sorry for Martin Starr's character at the end.
(EDIT: Ive worked at a regional amusement park very similar to this when I was in my formative years, so it made me nostalgic and very uncomfortable at the same time.)