How others will see it. The biggest drawback, for me and (most likely) you is Leigh's delivery. She mumbles her lines, and worse, she sounds affected doing so. She is pretty, however, and one also feels sorry for her, two factors that encourage sticking around until the credits roll.
How I felt about it. I watched the film with closed captioning enabled. This helps interpret Leigh's mumbling, a useful service since she says such clever things, along with the rest of her debauched in-club. Benchley tells Parker, "You're not spoiled, just highly seasoned." This is a pun on the different meanings of spoiled, as it applies to humans and meat. It is alo an inference to her "vicious circle" wit, which can mercilously cut a man (or woman) down.
But Parker's less clever husband doesn't understand Benchley's clever remark, and certainly no one is going to explain it to him. You either get it, or you don't, and if you don't, there's no literary hope for you. As if being a great writer means you must say (and comprehend in full meaning) remarkable things at all times, on all occasions. Something that Parker is good at. In fact, her bon mots are probably better than her acclaimed poetry, which provokes a downbeat or wistful atmosphere.
Mrs. Parker isn't very happy, even though she's young, beautiful, famous, and has a circle of clever, admiring friends. This film implies she's love-starved. She never turns down a pass, and in her later years she's fond of carrying around a small pooch to provide the necessary TLC she craves.
But her relationships quickly end, partly because of her self-destructive antics such as boozing and suicide attempts, and partly because of her relentless vocalizing of all her thoughts, and her merciless assessment of others. Besides, the only one she really wants is Robert Benchley, and he knows better than to get tangled up in her web of needy recrimination.
So, what we have is an interesting character study of a largely forgotten literary personality. Jennifer Jason Leigh is miscast, of course, or perhaps she's merely poorly directed. In any event, the film is stocked with once famous New York literary personalities, and all we get to know about them is that they drink, smoke, stay out too late, and sleep around too much. Here's George S. Kaufman, there's F. Scott Fitzgerald, but these are simply names attached to unfamiliar actors. Why are these men famous? What have they written? You'll have to look them up at wikipedia.com, because there's nothing of use here.