Personally, I think Rocky Horror, and the whole subculture associated with it, easily beats the pants off Hedwig.  Hedwig just seemed like they copied the idea, tried to make it a A-movie with A-songs instead of a B-movie with campy B-songs.  No real participation, and I didn’t think the songs (or the play, which I saw) were that good anyway.  Though I do love Type O Negative‘s cover of Angry Inch.

I may update this with more thoughts later.