I think the movie "In the Mood for Love" is great

Recently I watched a VSause video: http://youtu.be/i8tHWPRPF9M ,
which led me to http://www.youtube.com/watch?v=JnQmJaqUJ0Y&feature=share&list=SP77A0EB0EAF0FEFEB

As the authors of the show suggest, it's best to watch the movie first and then view the discussion of it - that's how I did it. Same is valid for the comments below - I'll try to avoid spoilers, but it's best to make your own impressions first.

So I watched the movie In the mood for love by Kar Wai Wong and I really liked it, and here is why:
I love the visuals and style - they are vivid, consistent and inspiring. The scene of the corridor with red drapes is unforgettable. Pacing came a bit slow for me, but it was worth it, and probably helps the emotional build up. The technique of having the protagonists practice what they want to do, but never did, was very effective for me. Music was also well used to portray the mood.
In terms of story, I think that society has changed a lot since the 60s and today people in the same situation would definitely choose to their own happiness instead of adhering to the society expectations. Non the less, the emotions portrait would still be vibrant and tangible today, as they were years ago. That makes the story transcend the choice of time and place, and that's what makes it great.
It's not a movie that will stun you, but it's a movie that will make you feel, and think, and that is something. It stands out, compared to the tons of meaningless films pouring out of Hollywood these days.
I will definitely explore more of the works of  Kar Wai Wong.