It is for its time a big budget film, which was originally going to be filmed in 3D, but due to technical errors, it wasn't!
You don't actually see any giant ants for the first half of the film, exec[t occasional glimpses. They use this sound to signify their presence. This keeps the suspense going until they are properly revealed on mass. They used the threat that the queen ants that can fly and could be anyway and not contained. They used science to backup their theories. If ants were giant, they would act in this way. At the time (1954) everyone was truly frightened of nuclear weapons, so the film would have more meaning back then.
As it stands now, it is still and enjoyable film, and the ants weren't all that badly constructed, considering.
It is also one of the first films to use the Wilhelm Scream. As soon as I heard it I recognised it. It's only up until recently that I've been able to put a name to it. Some research prior to the film. I always recognised it is Star Wars and Indiana Jones and other numerous films. Nobody every believed me!
And now just a little something to put a smile on your face!