Yes, the music is great.
There is a big new live production of teh show here in Australia now - http://www.southpacificmusical.com.au/
- and some of the reviews are commenting on the racial tensions in the plot. They were apparently obvious in the original stage show but played down for the movie and have been brought into the foreground again for this production - things like the American soldiers being racially segregated on stage as they were in the army at the time.
So there's something serious to think about as well as romance and good music to enjoy