Video Reviews : ****Excellent***Good**Fair*Poor : <i> Recent videocassette releases, reviewed by Times critics.</i> : Movies

* “Hearts of Fire.”

Lorimar. $79.95. 1987. R.

This is a movie you can barely believe even as you watch it. Is that really Bob Dylan playing a rock-star Norman Maine--in yet another “Star is Born” rip-off--to Fiona’s Vicki Lester? Is that really Rupert Everett playing a People magazine version of David Bowie? Is that really Dylan, backing up Fiona on her numbers--instead of singing his own? Were these lines really co-written by Joe Eszterhas? And directed by the late Richard Marquand? Everyone involved seems to have taken leave of their senses--except possibly Fiona, one-time “Miami Vice” show-stealer, who, unaccountably, is given a superstar send-off worthy of a combination of Janis Joplin and Julie Christie (which she definitely isn’t.) The only reason to watch this flabbergasting video is Dylan--who sings a couple of songs and spends the rest of the time looking grumpy and cynical. That’s the right attitude.