Based on the true story of Oz's famous outlaw, this adds a bit of romance here, a bit of fiction there, to create a heavy drama with only occasional lapses into welcome light relief.
Set in 1881, young Ned has just come out of jail after being falsely imprisoned by the dodgy coppers with their assorted array of beards.
Despite the utter bent attitude of the officers, Ned struggles to keep out of trouble and stick to the simple life of his Irish Catholic family, saying grace before tucking into his wombat stew and earning extra cash on the side with a bit of bare knuckle fighting.
But this is all ruined when one of the coppers (with his lovely ginger whiskers) harasses Ned's younger sister and in the ensuing scrap at the Kelly house claims Ned attempted to murder him.
Although at the time of the fisticuffs Ned was actually making out with a genteel English lady in her stables - in true Lady Chatterley style - but knowing the twisted nature of the justice system Ned decides to go on the run.
His mother is jailed instead, which prompts Ned to avenge his family with the help of his gang; convincingly played by his younger brother Dan (Laurence Kinlan), and his two friends Steve Hart (Philip Barantini) and Joe Byrne (Bloom).
As the gang eludes capture in the Outback their popularity among the Irish underclass grows... until the imposing figure of Superintendent Hare (Rush) is brought in to put an end to it all.
Ledger's come a long way... his move from Australia to Hollywood is a physical version of his rise from the soap Home & Away to playing the lead role in films such as A Knight's Tale and The Sin Eater.
But for a film like this, where the emphasis is clearly on the hero status of Ned as a young man who struggles with the reality and brutality of being an outlaw, it's questionable whether Ledger is weighty enough to carry this Australian legend off.
Bloom comes across brilliantly as Joe Byrne, a thoughtful but impressively loyal mate to Ned. He's also a bit of a cheeky ladies man which comes out during the gang's first bank job.
When they very casually break into the bank, by ringing the bell for attention, they encounter the hilariously hammed up character of the bank clerk's wife, played by Rachel Griffiths.
She nips upstairs to change into an outfit more suitable to be held up in and ends up copping off with Joe - who's been sent to keep an eye on her - within a matter of seconds. "You are a beast," she says to him, which clearly he's not: his beard is nowhere near as full on as Ned's.
The film works because it's well acted, well shot and it's a good story - just don't get it into your head that Heath Ledger sounds a bit like Father Ted and looks as if he could be part of The Bee Gees in their big bearded/bouffant hair day...
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