Johnny Depp’s new period piece “Public Enemies” doesn’t involve swashbucklers or gaudy makeup or the unbearable stench of a Tim Burton project. Oh, what a glorious time to be alive.

Bringing his too-cool-for-school bravado wherever he goes, Depp takes on the role of infamous bank robber John Dillinger with ease. He’s suave, he’s cunning, he constantly pushes back his gelled hair and he’s got a pencil-thin mustache; what a stretch for the 46-year old actor. The familiarity, though, works in Depp’s favor. He’s no longer playing a charicature like he did for the last half of the decade. He merely gives character to his character.

The film follows Dillinger and his gang as they rob banks across the Depression afflicted country. They can get the loot in 1 minute 46 seconds flat and haven’t been stopped yet.

To thwart the thieves, J. Edgar Hoover (an unrecognizable Billy Crudup) sets up a little task force you may have heard of called the F.B.I., headed by the determined Melvin Purvis (Christian Bale).

The cat-and-mouse game, which really only peaks in intensity during the final third of the film, is really unbelieveable if it’s all true. Dillinger was able to escape capture only by the skin of his teeth too many times to count.

At one point he even waltzes into a task force devoted to him in the Chicago Police Department and asks about the Cubs score. Bale and Depp only share a few scenes together, ala DeNiro and Pacino in Mann’s masterpiece “Heat,” but the constant tug and pull.

The qualms with “Public Enemies” that might make you twiddle your thumbs is the drawn-out sub-plot involving Dillinger and his gal Billie (Marion Cotillard).

It takes up too much screen time and the set-up is certainly not worth the lame payoff. I still don’t know what the ending meant.

Another gripe is that Mann loves to film digitally, as apparent in “Collateral” and “Miami Vice.” Here, it just doesn’t work. Instead of being immersed in the 30’s, it feels like present day with the only difference being tommyguns and straw hats.

There’s even some electric guitar playing Southern twang. Where’s the historical context, Mann?

Thanks to the spot-on talent of Depp, Bale and memorable actors in smaller roles (it’s good to see Stephen Dorff with a job), “Public Enemies” is a good gangster flick, but not forever memorable.