When I first heard about
Old School I thought to myself "Didn't I see this movie the first time, when it was called
American Pie,
Night At The Roxbury, or even
Road Trip?"
[Thom adds: Perhaps Animal House, too?] Then, I saw a preview for it and thought it had potential, but I figured it'd be just another movie full of recycled jokes and clichés. In all actuality, that was not the case.
Old School revolves around recently-heartbroken Mitch (Luke Wilson), who helps start a fraternity in attempts to save his house from annexation by campus.
It was mostly the cast that kept this movie going. Will Farrell could be hilarious doing anything or nothing at all. He seemingly has something ridiculously absurd to say in any instance. Vince Vaughn was great in his limited role and Sean William Scott plays the best mullet-haired redneck ever.
The reason this movie deserves such a high Popcorn rating is due to the non-stop laughter.

I guess that it depends on how you want to define "Smarts" in this case.
Old School was fresh, innovative, and made the most of it's cast.
Old School never seemed like it was just two hours of reused jokes.
Old School had a good soundtrack, some of the camera angles just added to the humor, and while the plot may have been lacking and the sophmoric humor rampant, the jokes were incredibly funny to anyone willing to return their minds back to college or high school.
So, while the movie didn't require any intelligence, it was definitely original, the dialogue was great, and the interaction between characters was terrific.
Final

I was pleasantly surprised to see how well this movie came together. Just to see Will Farrell stumbling around like a drunken idiot makes this movie worth the price of a ticket. If you're looking for a comedy that has a ton of laughs and keeps your attention, than I'd recommend
Old School, but if you have children, don't bring them. The movie has an "R" rating for a reason, so if vulgarity isn't your bag, you may want to stay away too.