Bollywood films are still relegated to the Indian/Pak diaspora, although Middle Eastern, Nigerian and East African cab drivers in DC constantly tell me how much they love Indian films.
The last hindi film I watched was Mission Kashmir, but only because I wanted to see Hrithik Roshan jumping around in a tank top. I fast forwarded through most of it. I think that Aishwarya Rai is one of the most beautiful women ever, and that her acting talents are quite good too (from what I could tell on the flickering Air India movie monitor). That having been said, I can't stand the current crop of Hindi films, and haven't seen one in full since the early 90s.
I think that the last Hindi films I watched beginning to end was Pakeezah and Shree 420. They were playing on PBS as a tribute to Hindi films. It is quite amazing how good both films were --- and rather radical for their time.
Atheism is Myth Understood.