Baazigar was Abbas-Mastan's first movie with SRK -- At that time King Khan was not really the King but this movie along with Darr and Anjaam, all three of which had him in 'negative' roles, are claimed to have played a pivotal role in propelling him to the top of the food chain in Bollywood.
The plot for this movie is actually 'inspired' from a Hollywood movie -- it was a Matt Dillon movie. Annu Mallik's music, although not exactly moving, was a super hit -- Especially the title song. I think I even saw a 'making-of' for the title song! It was that big. This was also the first movie were the SRK-Kajol on-screen pair appeared and went on to power many other Bollywood hits. Also on show in the movie was a rookie Shilpa Shetty -- she, unlike Kajol, hasnt had a chance to work with SRK on screen since then. Abbas-Mastan regular Johnny Lever excels in his bordering-on-loud humor; Siddharth -- V Shantaram's grandson -- sucks.
Overall a watchable movie for a Bollywood buff -- Abbas-Mastan are like the Prakash Mehra of the 90s - they take relatively new topics and make fast paced entertainers. (Their subsequent venture with SRK tanked!)