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).
Two lonely teenagers in Paris, a street-wise French boy and a sheltered American girl, both of whom are hiding their genius IQs in order to fit in, fall in love and realize how lucky they are to have found each other. With help from a romantic old con artist (Lawrence Olivier at his best; he should have done more comedy), they run away to Venice to make their love last forever. They have a wonderful adventure, and along the way, Hill pokes fun at American tourists, pays tongue-in-cheek homage to his own great movies, and shows us how wonderful life can be when you're different.