I loved this movie growing up. Though, I did have several friends that were actually in the 80s Punk scene, and never thought this was anywhere near an accurate depiction of them. The music is not even right.
This movie is probably more accurate about the MTV age of The Fix, The Clash, Billy Idol, The Police, Duran Duran, and Kajagoogoo.... not really the ACTUAL 80s Punk that went to the types of bars depicted in this movie, or the clothes and haircuts of the people in those bars. THOSE PEOPLE would not be caught dead listening to MTV. They were listening to Husker Du, Misfits, Milo Goes To College, Suicidal Tendencies, and so on.
That said, the movie is still great. It should be held up with other greats of the era like Breakfast Club and Weird Science.