How others will see it. Only a slender portion of the movie-seeking world is truly interested in watching a vintage Fred Astaire film. However, that slender portion is apt to greatly admire Astaire's multiple talents, and will forgive the film's arduous plot constructions and simplistic characters.
How I felt about it. Astaire didmake many good movies, at least two of these (Holiday Inn and The Band Wagon) without Ginger Rogers. Astaire is a capable comedian, and one can tell he worked extremely hard on his song and dance routines.
But why were, for example, Roberta and Follow the Fleet better movies, and it's not because they also featured stiff-backed Randolph Scott. Part of the reason was Ginger Rogers, an excellent comic actress in her own right, and more of a spark plug than the admittedly glamorous but earthbound Hayworth. Hayworth has her own songs, which may or may not be dubbed (too lazy to research the matter), and she dances with Astaire as well, but while her perpetual Greer Garson imitation is convincing, it would be better if she had a screen persona of her own.
The buffoon character chronic to Astaire musicals is filled by Gus Schilling, but his role is more credible than that of Menjou's two youngest daughters, who are completely inseparable despite their all-consuming obsession to marry off Hayworth so they can have empty-headed husbands of their own.
While trying to claw his way through the usual Astaire musical tangle of misunderstandings, Astaire states that he is from Omaha, Nebraska. And he is too, born there in 1899. Marlon Brando was born in Omaha, and so was I. None of this has any particular relevance, but I think Omaha deserves the plug, even if it has really cold winters.
A couple of early, teasing script references get past the Puritanical production code. A matron knowingly states that a newlywed husband will not notice what his wife will be wearing for the next few weeks. After Menjou brags that he is 'twice the man' he was on the day of his wedding, his wife sneers, "I'd settle for half the man you were," to Menjou's pained expression.
But such pleasures are fleeting, and unless tepid romantic comedy plots and (mostly) conventional production numbers are your area of cinematic pleasure, better stick with one of the earlier, and better, Astaire-Rogers vehicles.