Damn.
Fucking revelatory in the context of the period—if this had been released in 1976 as Welles intended, it would have broken people's brains. The documentary/found-footage conceit is already like nothing else from that time, but throw in an editing style that's most accurately described as F for Fake on steroids and it becomes unreal. The film-within-a-film, even though it's designed to poke fun at the New Wave, is unbelievably pretty—for someone who insisted on shooting on black-and-white for the majority of his career, Welles is a master of color.
In terms of content, I want to take time (and rewatches) to digest, but it's far and away Welles' funniest movie. He's taking shots at everyone, including himself, and refuses to let up for nearly two hours. Huston is, of course, fantastic, but Bogdanovich is maybe even better, and the two characters' relationship is even more poignant if you're familiar with the relationship Bogdanovich and Welles shared.
Of course, we'll never truly know what Welles' definitive version of the film would have been, and the bits and pieces that remind us of this are a bit jarring—Bogdanovich had to rewrite the opening narration, as Welles never recorded it, and its casual mention of cell phone cameras is so fucking weird. But in a way that's the perfect capstone to the man's career—his filmography is a collection of ghosts, movies that were robbed of their definitive versions or made on shoestring budgets or simply thrown away. In any case, I'm comfortable with calling it one of my favorites of his, and I suspect my appreciation will only grow upon further viewings.
Got to fly out to San Francisco and see it on a theatre screen, which I'll be eternally grateful for. It just felt right (she said, the pretentious ass). Pairs very well with the bummer of a companion documentary They'll Love Me When I'm Dead, which is also on Netflix and examines all the rotten luck that prevented Welles from finishing the film while he was alive.