Cinematic show is decent.
Shows a lot of old movie clips......you'll recognise most of them, so if you like nostalgia you'll enjoy that bit of it.
The fireworks and water show are nice and well done. Not spectacular, but nice enough and kinda suit Universal somehow, not too ostentatious. You can see really well from most places around the lagoon and best of all you don't need to be there hours before to grab a spot.