The festival is being held at the New Beverly Cinema, 7165 West Beverly Blvd. Los Angeles, CA 90036 on 30 January 2007 at 7:30PM. They are showing two films, "Plan 9 From Outer Space" and "The Apple" (yikes, what a combo).
Here is their MySpace site:http://www.myspace.com/sbigfilmfest
The email I received indicates that the intent is for this to be a monthly event. Should be a good time for anyone in the LA area with the time.