I originally saw this the year it was released, but forgot about it. As I rewatched it, toward the midpoint of the movie, I had to ask myself "why do I like this so much?" The entire story is based around pro wrestling, which I have not cared about since I was a little kid.
So, what is it? Why did I like this? Well, it's easy: there is nothing but heart here; it's a feel-good movie, through and through.
Is there a lot of depth? No, but there doesn't need to be. The story is one big redemptive arc, and that's all you need.
We have our two leads - Gordie, and Shawn - who adore Jimmy King. After King's excommunication, it is up to our duo to help him rise to the top once more.
The writing really saves what could be just another dumb comedy. We have a hero who is flawed, and who actually has to work to not merely return, but transcend where we found him. Parallel to this is the growth of Gordie, and Sean; they could have easily remained the same lovable losers, however they were allowed to find themselves and learn to be better.
I honestly would put this on the level of Tolkien or Shakespeare - no, really. Don't be fooled by the wrestling backdrop, there are actual themes here that can be found in the best hero's-journey tales.
Great action, loads of laughs, Rose McGowan at her peak, tons of heart.