I also saw it last night I thought Baz Luhrman has produced a very good biopic. As you say it's pretty long and agree the performances, Tom Hanks, as the appalling Colonel Parker, excellent, I didn't know he was a Dutch illegal immigrant before. The film belongs to the very talented young actor, who played Elvis brilliantly not to mention an incredible performance by another young singer/actor who portrayed Little Richard. I wasn't a fan of Elvis at all when I was growing up far more influenced by The Beatles. Only long after he died, in the last 20 or so years I've come to appreciate him and his voice.
Veering off topic slightly, for those who read "Where the Crawdads Sing" it was one of the trailers, thought it looked good.