I just love this movie, even though I'm way past my teenage years.
Of course it has its flaws, but it's also one of the best movies I know that portrait teenagers in the early 90s. The setting reminds me of "My so called life", a great TV Series also set in the early 90s.
The Soundtrack is amazing and diverse (from Leonard Cohen to the Beastie Boys) and the lead actors, Samantha Matthis and Christian Slater, deliver a spot on performance, especially Christian Slater.
Sadly there aren't many teen dramas, but this one is somewhere on the top spots.