For some reason, I can't stand the Coen Brothers' stuff in general, but this one movie by them has got to be one of my favourites that I've watched so far. It has a lot of rewatch quality for me. There are so many engaging interweaving subplots and side characters within it, and overall it's a pretty good depiction of the drudgery and rejection underneath culture industry.
It still has the pitfalls of the Coens' other stuff, like intentionally unsympathetic characters and a sort of annoyingly overriding deadpan quality, but I can let those pass somehow.