The film starts with an extremely violent bank robbing scene. Men armed with automatic weapons storm the bank from the doors and the glass ceiling in broad daylight. Anybody, customer or employee, who even looks the wrong way gets filled full of lead. An operator trying to reach the police is punched in the face and is thrown down the stairs. Then the police arrive and a director yells "CUT". You've been watching stuntmen do their stuff including the telephone operator! Have I got your attention?
The rest of the film is about Hollywood stuntmen and the fact that they are "lucky devils" to be alive at the end of each work day. There was no Osha or workman's comp, or class action lawsuits in 1932. You die in a stunt, too bad for you. But while you are alive the pay is good, and the more dangerous the stunt the better the pay.
So obviously some superstitions grow up around such men who are always in danger. If a bottle breaks, then some stuntman is going to "get it". And by "It" I don't mean an Academy award. And there is the slogan of the business that "A good stuntman makes a bad husband and a good husband makes a bad stuntman". And if a good husband becomes a bad enough stuntman that he dies on the job, the wife is left broke. So Boyd's character is never going to get the marriage bug. But then he meets her - a starving unemployed girl he saves from suicide, and his motto goes down the tubes. How will this work out? Watch and find out.
This is not your typical precode. There is no extra or premarital sex going on. The things in this film that the code would stomp out in 1934 is all of the violence and dangerous stunts and probably even the suicide attempt by the jobless desperate starving girl. And then there is a police chase scene in which the police are outsmarted. That would be gone during the production code era too.
Things to look out for? For one, note that the script writer is a woman, sitting right next to the director on the set, editing on the fly. Ask Frances Marion how that career worked out for women after about 1935 when the suits began to realize they had made it through the talkies and the worst of the depression and could jettison women in important jobs behind the camera. Also, look out for a very young Lon Chaney Jr. among the stuntmen almost a decade before he becomes The Wolfman.