There's a lot of angsting and whining in this movie that I didn't relate to when I was an optimistic college student, but now that I too am joining the ranks of the confused and unemployed post-graduate, I look upon its memory more fondly.
Eric Stoltz is very amusing as the eternal student/bartender. A friend of mine is particularly fond of the Otis character, the clown of the film and a master of deflated monosyllabic responses (check the same actor out in Mr. Jealousy - he has wonderful mastery of the trapped upperclass dork). Josh Hamilton does a great job expressing idealized romantic yearning, especially in the last scene of the film, which I won't give away but which is familiarly and achingly bittersweet.
If you're a stickler for realism you might say to yourself, "Yeah right, like these people just graduated from college, they're all in their 30s." If you're the type that can look past the fact that Olivia D'Abo played an 18 year old 10 years ago on The Wonder Years then you'll be OK.
(And if you like Josh Hamilton and Parker Posey, check out House of Yes)