At its centre is relative newcomer, Austin Butler, who plays the titular role.
Understandably, the bulk of the film hangs on his performance, and thankfully (also relievingly), he nails it.
From every hip shake and lip snarl to his deeply accented drawl, Butler captures the Elvis myth like lighting in a bottle. It seems heresy to say in one breath that the actor of the embarrassingly bad The Shannara Chronicles outshines the multi-Oscar-winning Hanks. But he does. The less impressive Hanks, as Elvis's longtime manager who exploited Presley for every penny he could, instead appears for most of the movie to be struggling with the elephantine prosthetics he is buried beneath.
Ultimately though, the real elephant in the theatre remains Luhrmann's delicate play between fact and myth.
Sticklers for the truth might find Luhrmann's artistic embellishments one hip-gyration too many - certainly, the film offers little insight into the lives of each character. But perhaps that's the point, do we really get to know a legend?
Whether you see Elvis as a superficially re-sequinned jumpsuit of a film, or a wonderfully unbridled love letter to an icon will depend entirely on your tolerance for myth-making.
I'm far from a Presley fan, but Luhrmann's film left me all shook up, and in love, uh-huh.
Cast: Tom Hanks, Austin Butler, Olivier DeJonge
Director: Baz Luhrmann
Running time: 159 mins
Rating: M (Drug use)
Verdict: A vibrant spectacle to match the legend.