As pointless as it is stylish, Charles Shyer's breezy, restrained remake of the 1966 Michael Caine hit begs not the question "What's it all about?" but rather "Why bother in the first place?"

The film certainly has its merits: Jude Law steps into Caine's shoes without missing a beat. The female cast is appealing and strong (Marisa Tomei, Susan Sarandon and newcomer Sienna Miller are among the spectacularly lit ladies). And there are several fine musical moments courtesy of a remarkably effective collaboration between Mick Jagger and former Eurythmics leader Dave Stewart. (Joss Stone turns in a marvelous, bluesy rendition of the Bacharach-David theme song over the closing credits.)

But where the original "Alfie" had Caine playing a joyless misogynist forced to cope with some pretty provocative issues at the time - abortion, the sexual revolution, women's lib and the threat of terminal illness - the new, more likable (though just as clueless) Alfie faces melodramas more modern and mellow. This drains much of the drama away from the final act, turning Alfie's silly-boy questioning into the sort of navel-gazing that a good issue of Cosmo could alleviate.

Yes, Alfie still talks to the camera, providing a running commentary on his thoughts and exploits, saying things like, "My priorities are wine, women and ... well, that's about it." He prowls post-9/11 Manhattan instead of swinging-'60s London, and, like his forefather, still wants to shag everything in sight. His conquests, unlike those of Caine's Cockney cad, aren't frightened "birds," but opinionated women who are perfectly capable of seeing through Alfie's charm and telling him to take a hike.

Director Shyer, who co-wrote the screenplay with Elaine Pope, doesn't shy away from the original's dark themes. But he also fails to find a modern equivalent for the sexual frankness and the Cold War-era nihilism that made the first "Alfie" something of a groundbreaking entertainment.

That film, which was nominated for best picture, hasn't aged particularly well. Shyer's update, with its sexy cast, enjoyable jump cuts and high energy, probably will play better 40 years from now. But its impact today is negligible.

TITLE: "Alfie"DIRECTOR: Charles ShyerCAST: Jude Law, Marisa Tomei, Nia Long, Sienna Miller, Susan SarandonRATED: R (sexual content, language, drug use)GRADE: * * ½ (on a scale of 5)