This movie has developed a cult-like following usually only reserved for horror movies and obscure comedies. That's unusual because it was a pretty decent hit.
Ex-football star, Terry Brogan, is sent to Mexico to find the spoiled daughter of the owner of his former team. She also happens to be the girlfriend of Terry's gambling buddy Jake (James Woods). Of course, he does find her and they fall in love. Or is she just using him?
The acting is pretty good - Jeff Bridges was pretty sexy at this point (and I'm a straight GUY!), Woods is always good, and Rachel Ward always seems to play the same character so I can't fault anything here. The movie gets bogged down in the politics played between Terry, his agent, and a subplot involving some land-development. A streamlined script would have made this much better. Direction is good, though, especially in the car race.
If you're looking for steamy remakes of old movies try Body Heat instead. William Hurt plays virtually the same character as Bridges does here and the script is much tighter.