...well, it is in the UK anyway. My wife brought both Rock Follies series back from the UK this summer. Excellent. When they were originally shown in the UK, the second series had some associated industrial dispute and I never got to see the last episodes.
The music is great, Andy Mackay (Roxy Music) showing a huge range of styles. Only JC can actually sing, but the band holds it together. Well worth a watch. I think the songs are better in series one, the "single" in RF77 is okay, though the B side is more to my taste, despite Charlotte's dodgy voice.
There are obvious comparisons with other fictional rock-mock-umentaries, but for my money this is up there with "The Commitments".