The greatest illusion in Christopher Nolan's labyrinthine thriller, about feuding magicians in late 19th century London, is the film itself.

The Prestige, based on the novel by Christopher Priest, pretends to be an intricately constructed web of intrigues - a chronologically- fractured narrative concealing sleights of hand designed to keep us guessing until the closing frame.

Alas, once you look past the impeccable production design and strong ensemble cast, not to mention Nolan's coolly assured direction, his film is nothing but a cheap parlour trick - and an obvious one at that.

Aspiring magicians Robert Angier (Jackman), right, and Alfred Borden (Bale), above, learn their craft under the renowned illusionist Milton (Jay).

The two men are plants in the audience, who aid Milton in the spectacular finale by binding the hands and feet of pretty assistant Julia (Perabo) - who is also Angier's wife - before she is dropped into a tank of water, apparently to drown.

When the trick goes tragically wrong - supposedly the result of Borden tying the wrong knot - Angier and Borden become sworn enemies, determined to out-do one another by performing increasingly spectacular tricks.

The men's approach to their art is completely different.

Borden lacks charm or flashy presentation, and is devoted to magic in its purest form.

Angier - rechristened The Great Danton - has panache and flair in abundance, but remains tormented by his rival's far superior technical ability.

Caught in the middle is engineer and illusionist mentor Cutter (Caine), left.

As the men's rivalry wrecks the lives of everyone around them, including Borden's wife (Hall) and Angier's new assistant (Johansson) left, they prepare for the ultimate illusion - making the opposition disappear forever.

The Prestige is a triumph of showmanship over substance.

Bale and Jackman are both solid but the screenplay does not develop either of their characters in sufficient depth.

Supporting players, especially the women, are slaves to the plot mechanics and exist solely to facilitate the various twists and turns, all of which only lead to the film losing momentum.