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It is terribly important to note that this film is a sequel to the original FMA (2003) anime and will be mostly incomprehensible to anyone who has solely watched Brotherhood (2009). That being said, this movie is genuinely so killer and I always go back to watch it after I've rewatched Brotherhood lol. When the post-FMA:B depression hits, my next step is always to watch Conqueror of Shamballa.
If you are experiencing the same post-Brotherhood depression and want to watch this, but haven't seen FMA 03, here are some short notes of what happened in the first series that will help you understand the movie:
I think this covers all of the big differences without spoiling too much from either side. Watching this without seeing FMA 03 isn't impossible, just suspend your disbelief and laugh a lot :P It's the quality of movie that Sacred Star of Milos should've been but failed to be.