'Austin Powers: The Spy Who Shagged Me'

PROJECT Mike Myers, 35, back as everybody's favorite snaggle-toothed secret agent in Austin Powers: The Spy Who Shagged Me.
THE DETAILS Austin time-travels back to 1969 London in search of his mojo, stolen by his look-alike nemesis, Dr. Evil. Look for a tour of Austin's bachelor digs, which contain, in Myers' description, ''all the accessories necessary to accommodate lots and lots of shagging'' — e.g., sliding poles and rotating beds. The ''bird'' brigade this time is led by Heather Graham as the leggy Felicity Shagwell, replacing Elizabeth Hurley as Vanessa Kensington (though Hurley will appear).
AT STAKE New Line's best shot to date at a healthy movie franchise. The studio's big-budget Lost in Space flew straight into a black hole of disappointing grosses in spring 1998, casting a pall on sequel plans; the original low-budget Austin, released in 1997, sped off with a groovy $54 million in theaters and an even groovier $44 million in video-rental gravy.
WHAT'S SO FAB? A trailer disguised as a Star Wars promo (shot before production began on the sequel), plus a pad-ful of merchandise in stores, including a Shaguar toy car, martini and shot glasses, and what New Line has called ''the world's first hairless plush toy,'' modeled on Dr. Evil's denuded cat, Mr. Bigglesworth. Me-ouch.