Probably the most underrated anime piece of all time.
Magnetic Rose really shows how far animation can go in terms of direction and perfect pacing. Some of this was probably the inspiration to much of Cowboy Bebop, redefined space sci-fi anime by allowing music to take a much larger role in the story telling. There is some nice CGI that doesn't distract from the film.
STORY/CHARACTER
The story, which I heard was co-written by Satoshi Kon, is very memorable and well-plotted. It's obvious that much work has gone into perfectly balancing the scenes and using them wisely to help develop the characters in such a short time.
ART
The artwork and animation are almost unparalleled. I rarely see animation so fluid, detailed and beautiful, in either anime or western animation. The characters are always doing something, even while they are talking, albeit subtly, it helps to develop who the characters are. I think the animation rivals that of Akira, Wings of Honneamise and Angel's Egg.
SOUND
The music is beautiful, fully orchestrated and operatic. It's very well paced with the progression of the scenes to such a high degree, it is a work of technical expertise. Even if you dislike opera, you will still probably enjoy how it fits with the scenes, the story, and the plot. It gels nicely.
OVERALL/ENJOYMENT
Overall, Magnetic Rose is my favorite sci-fi anime. I wouldn't really consider the short length a flaw, since I consider that this film is a piece, and makes good with the time it's allotted to. Had it been longer though, we could learn a bit more about the characters, which could increase its lasting appeal. However, I firmly believe that this beautiful piece of art is a masterpiece.