Well, I don't know what I think of Moulin Rouge. Baz Luhrmann seems to be in love with musicals; he also seems to have a funny way of showing that he loves them. He spends so much time distracting our attention away from the song and dance that we might be forgiven for thinking he loves the razzle-dazzle of cinema far more than he loves musicals on their own. The best evidence for this, perhaps, is on the DVD, which features as one of its extras some of the key dance scenes from the film in "unedited" form ... in other words, you can actually watch them and appreciate them as dance. The existence of these on the DVD is a way of Luhrmann confessing that he junked the dances in the movie itself for something else he wanted to do.
On the other hand, if you like Baz Luhrmann, you'd probably love Ken Russell.