Word on the street (that's where I'm from, by the way, The Street, where my wallet is large, my pimp hand strong, and my morals ambiguous) is that Larry Flynt is the Larry referred to in the title, not Larry Bird, as the presence of Joey Hart might suggest.
Flynt does not appear in the movie, preferring to remain mysterious.
"I'm a goddamn enigma," the Hustler founder might have said at some point, but not to me.
Whether Larry's Angels fight crime or just have sex with one another, themselves, and whomever else shows up, is also unknown. Maybe the crime Memphis Monroe fights is the fact that she is clothed on the boxcover.