The trailer for Baz Luhrmann's latest film, an adaptation of F. Scott Fitzgerald's famous novel The Great Gatsby, was released on Tuesday, and it promises all the extravagance that viewers have come to expect from the Moulin Rouge! director.

Fitzgerald's novel, first published in 1925, is about a man named Jay Gatsby who is obsessed with achieving wealth, thinking it will make Daisy Buchanan -- the one who got away -- love him again. The story, ranked by Modern Library as the second best English-language novel of the 20th century (right behind James Joyce's Ulysses), is told from the point of view of Nick Carraway, Daisy's cousin, who befriends Gatsby and becomes the reluctant go-between for the reunited lovers.

The film is scheduled for release on Dec. 25, so there's plenty of time to catch up on your Baz Luhrmann trivia (and maybe even read the novel!).

Here are five things to know about Luhrmann's take on the tragic story.

This is the latest in a long line of The Great Gatsby adaptations.

Probably the most high-profile film adaptation of Fitzgerald's novel so far is the 1974 version that starred Robert Redford as the title character and Mia Farrow as Daisy Buchanan. There was also a television movie adaptation in 2000 that starred Toby Stephens, Mira Sorvino and Paul Rudd. The very first film adaptation of The Great Gatsby was a 1926 silent film. The actual film is lost, but you can watch the trailer for it here.

Leonardo Dicaprio and Baz Luhrmann reunite for the first time in over 15 years.

Who could forget the way Leonardo Dicaprio, as Romeo, first noticed his Juliet, played by Claire Danes, in Luhrmann's 1996 film Romeo + Juliet? (hint: A fish tank was involved). Add the two actors' respective party costumes -- he was a knight in shiny armor, she was an angel in white with attachable wings -- and you've got memories that are still clear in the minds of 20 and 30-something women everywhere. Will this actor-director relationship still have magic more than 15 years later?

Couples that work together, stay together.

Catherine Martin, Luhrmann's wife of 15 years and frequent collaborator, joined him again for Gatsby -- this time as a producer in addition to her work in the art department. The talented designer and art director has already shared two Oscars for her teamwork on Moulin Rouge! (one for Best Art Direction and one for Best Costume Design).

Please welcome Elizabeth Debicki.

Virtual newcomer Elizabeth Debicki, a 21-year-old Australian actress and a 2010 graduate of the University of Melbourne's Victorian College of the Arts, plays Jordan Baker, a friend of Daisy's who fills Nick in on what happened to her buddy after her relationship with Gatsby ended and she married her stiff of a husband.

Indian actor Amitabh Bachchan aims for world domination.

Combine the star power of just about all the major men in Hollywood today and you probably still wouldn't have the global clout of Amitabh Bachchan, who plays the role of Meyer Wolfsheim, a shady acquaintance of Gatsby's. Though largely unknown in the U.S., Bachchan is by far one of the biggest stars in the world thanks to a thriving career in Indian cinema that has spanned decades (he also happens to be Aishwarya Rai's father-in-law). This might be the first time certain Western audience members really get to see him in action (although film buffs will recall that his name was mentioned in the 2008 film Slumdog Millionaire).