Factual error: In the scene where Mystery is playing "Rock & Roll All Nite" in the basement, Hawk is playing an Epiphone Special II guitar. The movie is set in 1978, and this guitar did not hit the market until 1996.
Factual error: When the four boys are leaving the radio station, they hear "Escape (The Pina Colada Song)" by Rupert Holmes in the elevator. This would be impossible since the film is set in 1978 and that song wasn't released until 1979.
Factual error: In the convenience store scene, the kid in the Ace makeup is playing a KISS pinball machine. The movie is set in 1978, so this is impossible, as the KISS pinball machine didn't hit the streets until summer 1979.
Factual error: In the opening, the song "I stole your love" is heard playing. When she pick up the record it shows the B-side, but the song played is on the A-side.
Factual error: The teacher in shop class is reading a newspaper with a headline about the Jim Jones suicide cult in Guyana, saying bodies were found, etc. However, the cult did not take the cyanide Kool-Aid until November 18, 1978, the concert in Detroit takes place October 13, over a month before the Jim Jones suicide/massacre.
Factual error: In the beginning when Mystery is practising there's a close-up of Jam's bass drum and judging by the indentations and shape the basshead is on very loose. That would mean the strokes would be very sloppy and resonant, but the beats we hear are sharp and hard.
Factual error: The Pizza Pig delivery driver arrives to the parochial school in a pink Lada Niva. Russian Ladas have never been imported into the States, and though it may be argued it have been purchased and brought into the US from Canada, since Canada did import them for awhile, the Lada is a late 80's model, and the movie takes place in 1978.
Factual error: The song the disco fans are singing along to before the pizza hits their car is "Makin' It". this would be impossible as the film is set in 1978, and the song was not released until 1979.
Factual error: When Beth is looking out the school window at Jam's Mom driving away with him leaving the school, at the top of the screen is an adjacent street and one of the cars passing by is a Chevrolet Venture minivan, which didn't come out until the mid 90s. (Note: this error has since been cropped away from DVD and Blu-ray versions and is only visible on the VHS release).
Factual error: The movie is set in '78, however the Volvo has plastic hubcaps which were not available on Volvos until 1986.
Answer: It is the intro to Black Sabbath's "Iron Man".
Twotall