Stage Beauty has a lot to offer, though its conclusion is a bit of a cheat. The movie is a sort of reverse Shakespeare in Love in that it concerns a man who plays a woman, which was not only the trend of the times, but required by law.
The time: the 1660s, shortly after the restoration of Charles II to the throne, after twenty years of Puritan rule. Billy Crudup (whose ex-g/f Mary-Louise Parker is a top stage actress herself, and a personal favorite) is Ned Kynaston, star of the stage, playing feminine roles (e.g. Desdemona) with such style, that some aren't quite sure he really is a man. Claire Danes plays his dresser, an inspiring actress, who gets her chance when Crudup insults the wrong noble, leading the king not only to lift the ban, but switch it: now only women could play women. [Various English actors fill up the supporting cast, including Charles II, his mistress, and Ben Chaplin in a less friendly Philadelphia role.]
Ah, but where's the art in that? The movie uses historical events* (such as Charles II allowing women actresses on stage) to examine serious themes as well as to provide a film with - in the words of one review - "a cheerful bawdiness." Billy Crudup provides a performance worthy of an Oscar nomination. His take of a vain actor that is quite good at his craft (and what happens when it is taken from him) alone is worthwhile, but the gender bending nature of the role adds a special additional touch. This includes the reactions of others, including his nobleman lover, who only enjoys the relationship when there is a sense of illusion of femininity. Sex does not always equal gender, and for a film that might have a mainstream market to be able to examine the fact, is notable.
Claire Danes' performance is somewhat weak, but it tends to fit her character, and probably a result of a somewhat undeveloped character. For instance, we are not sure if her character is a good actress, or just a new flavor of the month. Or, maybe, the problem is that she patterns her acting after the overly stylized (as she herself notes) mannerisms of her idol? Crudup and some of the supporting characters (Zoe Tapper is a treat) are the draw here. Still, Danes has a few excellent scenes, including a gender bending sex scene (mostly restrained, but played with gusto: check out her eyes) and an energetic finale. Said finale has her playing Desdemona with Kynaston's help with a special style fitting of the changing times.
The style, however, has a certain regularity to it that robbed some of the special originality of the movie. Overall, a pleasant experience with some thought provoking moments, but an ending that seems 1950s obligatory. If this is progress, I share A.O. Scott's belief that it is somewhat of a sad sort.
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* The end credits thankfully notes the film is loosely based on history, but largely not. I hate when films use historical characters but have that "not based on real people" priviso. So, we have films that include Abraham Lincoln or the like, but apparently are totally fictional in nature.