Overshadowed by John Hughes films at the time
In its original run, it was fun to see Franken & Davis on the big screen, but it seemed to lack the character depth of the John Hughes films of the time (Sixteen Candles, Breakfast Club).
Today, it's the only "80's teen flick" I own (desperately needs to be on DVD) and is my favorite of the genre. It preceded "Fargo" in poking fun at Midwestern culture, and there are several references to the Grateful Dead - the title of the film is a Dead song, and the band in the film poke fun at another Dead tune "Half Step Mississippi Uptown Toodle-Oo."