Kelly, so eager to emulate Boogie Nights, doesn't allow his characters to become more than thin stereotypes in a story that plods to its grim and obvious conclusion.
Slater and Franco are compelling in their roles, but King Cobra's jarring use of humor overly blurs the line between drama and satire while leaving a lot left unpacked.
Though based on a true story, it's presented with none of a docudrama's ragged, lumpy oddity: the narrative is on the lean side, but as taut and burnished as the bodies it depicts.