A rambling, oddball shaggy dog story, but it packs some real emotion and laughs along the way. Terrific understated performances, and good use of images and music. I recently watched it a 2nd time and found I wasn't all that into it... until near the end, when it suddenly got me on a deeper level emotionally than on first viewing. There's something in it about the loss of childhood dreams that resonates beyond the silly and playful surface. Always a good sign when a film deepens with time and re-visiting.
If you can play region 1 DVDs and care about the film, Criterion's extras are definitely a worthwhile investment, most especially (for me) the 13 minute short the feature grew out of.