Using my great mental abilities (debatable for sure), I sense a paper thin plot, fleshed out by a totally unnecessary plot device (provided by Emily Blunt as Hanks Jr's love interest) that hampers a typically wonderous performance by Malkovich.
As a kind of "inside" story about show business, the film works on a certain level, and the sweet ending, with its message about levels of sucess with a nod towards all those B type towns where B type talent ends up is a very nice sumnation and, for a change, a nice use of voice over narration (though I didn't much care for all the voice overs in the rest of the film).
Hanks is passable as the neer do well who quits law school and gets a job serving as "road manager" to Buck Howard - a charactor inspired by The Amazing Kreskin.
I did find it amusing that Hanks ultra famous Daddy appears as Hanks.... wait for it.... Daddy.
The film is shot in a very matter of fact way - no artsy shots, just an earnest telling of a story (except for one nice touch when Buck descends a glass and mirrored stairway at a hotel to perform his "greatest feat").
In all, I found this passably entertaining, but very obvious in its intent, and just a bit too fast and loose with the whole Blunt/Hanks quasi love/friendship thing.
Should you see this film - check your magic 8 ball - mine says "check back later".
As an aside - consider the time and place - early 60's. ESP was just becomming an en vogue thing - I actually had a box "game" called something like "develope your ESP, as guided by.... The Amazing Kreskin". What you got in the box was a brief booklet alegedly penned by Kreskin saying that everyone had a degree of ESP and could hone those skills with practice. So the box included those funny flash cards with shapes on them. Talk about exploitation!