Watching this movie is like watching an actual real life gang of old college friends reunite on the weekend. There's nothing that resembles a "plot" and the dialogue is natural and not punched up for drama or comedy- so watching the film is like watching real people pass some time together. The movie is pleasant for what it is.
It is interesting to see some of the actors (Clapp, Straithern) in these roles after seeing them in some of Sayles' later work, but the film itself seems dated. Then again, it's so far removed from my generation that a lot of the subtleties probably went over my head. But I do know there are too many dongs and man butts in the swimming scene.
I found this movie pretty hard to watch 30 years after. The idea was great and was a big influence on movies like "The Big Chill" and the teen version "Breakfast Club," but the acting was mediocre and Sayles seemed to lavish too much attention on throwaway scenes like the basketball game and the swim.