I remember that the last time I checked on this film on Rotten Tomatoes years ago it was near the 50% fresh rating, which blew my mind. Apparently the critics eventually came to their senses.
I LOVE this film. It should be rated higher on imdb, as well.
Although I loved the movie as well I think its current score is justified. It's one of those movies that deserves praise even though it's simply not that good a movie. The performances were excellent but the plot feels off-and-on and the postmodernistic self-conscious anthics don't always work. Therefore a score of 7 is a nice middleground.
But at least they tried to give the overplayed and predictable biopic angle a little freshness.