I watched this movie after seeing it on Broadway. I love the Broadway musical and I love the movie. I watched the movie like it was not related to the Broadway show. I am an avid reader and have seen what happens to most books when they are turned into movies, so I developed a philosophy really early. Assume that the movie is going to be based on the book ( or musical in this case) but that while the story line may be similar it will not be the same, it will be different so watch it for what it is.
I danced for 12 years before I had to make a choice. I was a good dancer( picking up chorus work in local productions as a child etc) but I wasn't super talented.I was however super talented as a show rider. I was told by my dance instructor and my trainer ( who i spent several months a year at his farm out of state) that I had to make a choice when I turned 14. That I needed to move up from dancing two hours four-five days a week and riding 3 hours a day 7 days a week.. and dedicate to one or the other. So I dearly love dancing and I love this movie and a lot of the other ballet and dance movies. I just chose to watch this movie for what it is, it is a great movie about raw emotion and human interaction. It is about the power of anticipation and heartbreak when you work really hard to get something you want and you just do not get it. I love the movie. I love the Broadway musical.

WARNING: REVIEW CONTAINS MILD SPOILERS
A couple of years back I managed to see the first five films in this franchise, and was planning to do an overview of the whole Elm St. series. However, just two years on and I find I can't remember enough about them in order to do it  I guess they couldn't have made much of an impression. From what I do recall, some of the sequels  Dream Warriors in particular  weren't as bad as is often made out, though even the original was no classic. Generally, the predictability of the premise (if people fall asleep they get murdered in their dreams) doesn't lend itself to narrative tension. But while I cannot recall much of the first five films, I do know they never plumbed the depths of Freddy's Dead.
An indication of how sick of Freddy the public was at this point can be judged by the fact that the film was promoted solely on the character's demise. The fact that the movie's conclusion is not even hidden, but in fact the entire purpose for the film's being goes to illustrate how vacant, soulless and cynical this venture was.
Taking the morally questionable idea of having a child molester as the charismatic villain, Robert Englund's in-no-way-scary interpretation booms with laughter. I always thought Freddy's mockery of the teenage victims was less aimed at the characters than at the teenage audience that could ever watch this tripe. It's like Englund's crying out "we know this is garbage  but you're paying to see it, so who's the one laughing?" And I'm sure victims of child abuse would be disheartened to see such an insensitive depiction of their plight. Was Freddy's appearance in the films always so rudimentary? All he gets to do here is a few "haaaaaaaaaaaaaarr  har  har  hars" and that's it. If this was the only Elm St. film you'd ever seen you wouldn't get to know the character at all. Even as the character pre-death in a flashback Englund plays him as a boo-hiss pantomime villain with a slop of Transatlantic (ie. overstated, misplaced and not at all funny) irony.
Acting is almost universally poor. Just look at how many times Breckin Meyer overacts with his hand gestures and body language. Only Kananga himself, Yaphet Kotto, keeps his dignity. And when Roseanne, Tom Arnold and Alice Cooper show up, you can almost visibly see the film sinking further into the mire. The script, too, is absolutely lousy, almost wholly without merit. Carlos (Ricky Dean Logan) opens a road map, upon which the Noel Coward-like Freddy has wittily written "you're f**ked". When prompted for the map, Carlos responds "well the map says we're f**ked". Who wrote the screenplay, Oscar Wilde?
Or how about the scene where Carlos is tortured by Freddy, his hearing enhanced to painful levels? So Freddy torments him by threatening to drop a pin  a potentially fatal sound, given that all sounds are magnified. Oddly, the fact that Carlos shouts at the top of his voice for him not to drop it seems to have no effect. "Nice hearing from you, Carlos", quips Freddy, hoping some better lines will come along. It's also worth noting that dream sleep doesn't occur instaneously, so being knocked unconscious wouldn't allow instant access into Freddy's world. Though as part of the narrative contains a human computer game and a 3-D finale plot logic isn't that high on the list of requirements.
The teenagers heading the cast this time are really the most obnoxious, dislikeable group in the whole series. Tracy (Lezlie Deane) is the only one who gets to greet Freddy with "shut the f**k up, man" and a kick in the scallops. And was incongruous pop music always part of the ingredients? Freddy's Dead. No laughs. No scares. No interest. No fun.