Let’s just get it out of the way: “Dreamgirls” belongs to Jennifer Hudson. That’s not to say that Beyoncé isn’t wonderful in the film, because she does a fine job. Structurally, though, the story belongs to Effie, the Dreamgirl kicked to the curb by her man, producer and other song sisters. Above all of them, she’s the character who is the most human, the audience’s emotional connection to the story.

And what a story. Three young black women Effie, Deena (Beyoncé Knowles) and Lorelle (Tony award-winner Anika Noni Rose) are trying to get into the music business when they’re taken under the wing of popular crooner James ‘Thunder’ Early (Eddie Murphy).

Eventually, Curtis (Jamie Foxx) a lower-tier music agent gets in on the action and propels the Dreamettes to stardom, but not before bedding Effie and then betraying her with Deena. Effie is no lightweight in voice, body or attitude, and eventually Curtis and the other Dreams boot the major talent out of the group.

The story runs on a parallel track at this point, following the ascent of the Dreams and Effie’s crawl back from poverty and obscurity. Everything works out well in the end. Effie has her day, Curtis loses out and Deena and Lorelle reunite with their original Dreamgirl.

Only in musicals.

GAY DIRECTOR BILL Condon’s approach to the film is built on maximum excitement and emotional impact, which, for the most part, succeeds, especially with the musical’s centerpiece “And I Am Telling You I’m Not Going.”

This is the moment “Dreamgirls” fans are waiting for, and they will not be left wanting. Hudson’s performance is one of the best moments in movie musical history. Her voice, exquisite throughout, soars, wails and finesses the song, and just when you think she can’t take it further, she does.

Most compelling is her desperation. Her man is walking out; her singing career is over and she’s pregnant. There’s something almost terrifying about her utter desolation and unrelenting anguish — a woman who’s completely coming apart.

It’s possibly because this moment is so spellbinding that other scenes in the film can’t measure up. Beyoncé’s ballad, “Listen,” while good in and of itself, seems too obviously a pop diva’s attempt not to be overshadowed by an upstart, and the film’s pat ending, comes off as the worst of musical theater fantasy.

Still, “Dreamgirls” is a breathtakingly wonderful movie.

CONDON’S DIRECTION PROVES that musicals have a place in modern American cinema. This isn’t the hokum-laden “Oklahoma” or your grandmother’s Fred Astaire flick. The music cooks, the sexiness sizzles and the story of a star’s fading hope is certainly relevant to today’s celebrity-hungry, “American Idol” obsessed public.

Numbers like “Move,” the Dreams’ exciting opener, “Stepping to the Bad Side,” a thrilling boys number, and “One Night Only,” another of Effie’s haunting ballads, create a virtually non-stop drive. Unfortunately, the pitch-perfect pace makes mediocre moments stand out in bas-relief.

“Family” is the movie’s major weak spot. With inane lyrics (“We are a family, like a giant tree”) and a sappy melodic line, the song is meant to reinforce the notion of the young Dreams’ close relationship, but it comes across more as a heavy-handed message — family is what matters most.

Curtis’ syrupy love song to Deena, “When I First Saw You” was cleverly masked by Condon in a montage of glamorous shots of Beyoncé looking more beautiful than she ever has (or probably ever will again) in her life. A gay man saves the day.

The performances, both musical and acting-wise, are inspiring. Murphy proves he not only can only make ‘em laugh, but can be a fine dramatic actor to boot. Foxx, as always, creates a nuanced character, and Danny Glover steps in for some professional cameos.

However, at the film’s end, it’s Hudson who is the real dream come true.

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