Like others on this thread, I also live right next door to Universal (we should do a meet and greet one day) so we went over on Friday night to check out the show before it oficially opened.
I gotta say that I was extremely underwhelmed. The first half is horrible, the movie clips go on forever with hardly any fireworks or anything else. Am I watching a nighttime spectacular or a Universal promotional trailer like those in some DVDs? When they showed The 40 Year Old Virgin screaming "aaahh! Kelly Clarkson!" and they shot a couple fireworks while the screens went dark, I laughed thinking it was the weirdest ending to the worst nighttime show I've ever seen.
But apparently that was just the halfway point of just a bad show. The second half involved projections on the buildings across the lagoon (the "Earthquake" side if you will) and that was kind of cool at times. I'll give them props for that, it's the only saving grace the show has.
What followed was more movie clips with the occasional fireworks and a few laser effects.
The 2nd half of the show is definitely better but overall it's nothing more than a disjointed collection of film clips with fireworks shot at seemingly random intervarls. Definitely nothing I plan on seeing again. If you are in the park, sure, stay and see it if you don't have to fight any crowds, but I would not make any efforts to travel to Universal to see this.
Several people did clap at the end, so apparently they liked it. Maybe I'm jadded because I live here and I get to see the Epcot, Magic Kingdom and Fantasmic shows whenever I want to, but I get the feeling that others will feel the same as I did. When the show was over, my friend looked at me with a strange expression on his face and exclaimed "who put this together?"