Basically, the movie is about a high school kid from a small town in Illinois who gets the chance of a lifetime when he flies out to Hollywood to meet the special effects supervisor from the movie 2001. When he gets there, the guy isn't available but he ends up on the set of Close Encounters and gets to meet the then-unknown Steven Spielberg. (The actor playing the young Spielberg is such a great look-a-like btw.) He then gets to tour ILM and, as luck would have it, happens to be there to see a preview of an unfinished version of Star Wars (no soundtrack, no special effects). He goes back to school and tries to get all his friends to go see Star Wars on opening day.
Overall I thought the movie was very entertaining. It's not so much about Star Wars as it is about a young aspiring filmmaker whose perspective on life changed after seeing a weird sci-fi movie. The film is based on the true story of Patrick Read Johnson (writer/director) who saw the rough cut of Star Wars and ended up moving out to California and joining ILM as a model maker after he graduated high school.
It was kind of fitting to see this movie at C4 in its unfinished form, as Johnson pointed out at the panel. I don't think anyone expected they would be showing the whole movie either. It was a welcome surprise.
SFX supervisor Mike Pawlak posted on IMDB that, "'5-25-77' is still in post production with visual effects and final sound mixing being worked on....A release later this year is planned."
I'm looking forward to seeing this in the theater when it's finally released.
EDIT: Check out the trailer on YouTube.