"Groove"
http://www.imdb.com/title/tt0212974/
I saw it on Bravo or Showcase while flipping channels, and it managed to hold my interest far longer than the average film on TV. Has been compared to American Graffiti
If you want to watch a feel-good, sort of sentimental movie, then I think you'll enjoy this one. It takes place around a rave (I know, sooooo 90s), and the events that come from it. Not recommended for children or the highly impressionable, as there is a good deal of drug use employed as a plot device.
I give it four and a half glowsticks out of five, mostly because I'm a sucker for sentimentality.
*sidenote: From the comments on imdb, it looks like I only caught the last half of the film.