That movie is awesome. Mostly the part about creating new dialogue from that old movie. The rest of it isn't as good though. The main character isn't really all that funny by himself.
Didn't look like it was a very expensive movie to make, considering all the footage had already been filmed, all the actors had already been paid, and one person did the voice of every character.
But it was a cool idea, even though Woody Allen did it first.