I don't know: is 35 years too long to be considered fashionably late to the party?
I just saw this for the first time, and it was as good as everyone said it was.
The songs, of course, and the stars. Olivia Newton-John was fine, but if she brought nothing else to the table than her voice and, probably, two of the film's best songs, she was still the perfect choice for Sandy. And Travolta, with still a bit of Vinnie Barbarino shining through, was great (can you imagine the debacle if Henry Winkler had taken the role as he was offered?).
But, man, the vibe. It starts thrumming with the opening animation and never lets up. Goofy, infectious, giddy, and deliciously risqué. I wonder if audiences didn't respond to the racier elements of the dialogue and lyrics precisely because they were delivered with knowing winks rather than expletives.
Not my favorite musical (I think that would be Meet Me in St. Louis), but a wonderful movie.