The challenge -- first and foremost (don't you think?), will be to make it a BLAST on the screen. Absolutely, but I'm not sure zooming in on the story is the answer. And yes, I do believe there is a story, because all the characters exist as part of a plot that is told from beginning to end. But what makes the show so fun and exciting (for me, anyway) are the live performances of those classic songs. I'm sure the film will be funny, but I know I would feel rather deflated to hear the toned-down film scoring (which was my first MAJOR problem in Hairspray) and the absence of seeing the live band. Unlike most musicals, Rock of Ages, with its jukebox score, silly cliched book, and camp style relies most heavily on the live performance atmosphere. Take that away, and you remove about 60% of what makes the show work. I'm certainly not against making the film or Shankman's involvement, but I am definitely skeptical.
The most shocking thing to me is the fact that any "suit" at a major film studio would allow a man that behaves the way Adam Shankman behaves on So You Think You Can Dance, behind a camera. Let alone, allow him past the gates. It's shocking to you that the director of one of the most financially successful musical films in history was hired to direct another film musical? The "suits" see $$$ and assume Shankman, as director, won't be on screen. I'm not sure why they would NOT allow him behind a camera.
"What can you expect from a bunch of seitan worshippers?" - Reginald Tresilian