I was sorry to have missed this when it came out (in 1979 when I was 18), then forgot about it for many years. The other day I saw a picture of Diane Lane, and remembered this movie, and decided it would be a good family film that my wife and 2 oldest kids (girl 12, boy 15) would enjoy.
It was indeed. I don't have much to add to the glowing reviews others have already given it here; I'll just note that
1) There are so many subtle grace notes that repeated viewings will be well repaid
2) It is not suitable for 10 and under, due to sexual references
3) I wish even more now that I'd seen "A Little Romance" when it came out, its existence in my memory would have enriched my life for the past 24 years
What really makes the movie a classic is bullseye performers by ALL the actors. The hardest kind of character for an actor to play is an extremely intelligent one, only very intelligent actors can do it, and the two leads are up to it. (Too bad the scriptwriter uses the word "etymological" once when he means "ontological", it is the kind of mistake Lauren would never have made, but this is the tiniest possible blemish, and no movie this rich can avoid having a handful of forgivable glitches).