Tough one to review. I disagree with a lot of the comments saying "Wolf of Wall Street" is basically just a porno or that it has no redeeming qualities. That's definitely not true. It features amazing performances from its entire cast, including DiCaprio, Jonah Hill, Margot Robbie, and even the smaller supporting roles by actors like Kyle Chandler and, of course, Matthew McConaughey (in yet another bizarre, out-there demonstration of his newfound range as an actor).
The directing is also top-notch. You'd never guess Scorsese is in his 70s. This feels like it was made by a young director at the top of his game. Great cinematography, too.
But in good conscience, I still can't say this is worth your time for a lot of reasons. For one thing, the content is really strong. It's a serious shortcoming of the MPAA that this (with its 500-plus F-bombs, boatloads of illicit drugs, and graphic sexual content) has the same rating as "The King's Speech." This is not your typical R-rated movie, and even people more or less desensitized to profanity and whatnot might be shocked by just how bad this is. (I think the only reason I was able to sit through it is because I'd been marathoning "Deadwood" the week before.)
On top of that, it's tough to disagree with all the naysayers claiming that this movie glorifies Jordan Belfort's decadent lifestyle. You see the partying, you see the wild, wacky adventures, but very little in the way of consequences is ever shown onscreen. Even if that may be accurate in some sense -- Belfort did seem to get off pretty easy; just 22 months in prison and now he's living a "modest" life in a gorgeous home in Hermosa Beach, CA -- it feels irresponsible, to put it mildly.
Overall, despite all the great filmmaking on display here, it's just not something I would ever recommend to almost anybody.