I would put this in the top tier of Franco films - super dreamy, amazing locations, Lina looking as beautiful as ever, and some really wiggy freakout scenes. That's the beauty of Franco having made so many films - you're going to keep finding great ones if you keep watching.
Goodness, the sound design and score of this film (done by Franco himself!) are on another level. Add the usual gorgeous locations, incredible fugue sequences, and a relatively tight (for Jess) story = new favorite.