Hell-fer-Sartain State College in far, far north Houston, and found it immeasurably depressing, in spite of the infinite number of gay subtexts.
It's about depressed young people in a dismal, windswept Texas town in the 1950s. They try to find meaning in their sad little lives through tawdry affairs with people they hate and going to the movies, but they can't perform during the affairs, the movie theater is closing, and they're all leaving or dying.
Jeff Bridges) are obviously into each other, no matter how much they try to triangulate their romance with girlfriends whom they can't perform for and affairs with older women whom they hate. They split up when Sonny goes off to die in the Korean War.
For that matter, an awful lot of the men in town are unwilling or unable to...well, you know. It's as if the quiet desperation of their lives has resulted in impotence. And a lot of gay subtexts.
Rich boy Bobby (Gary Brockette) invites them all to his house for a skinny-dipping party (he has a famous frontal nude scene that got the movie banned as obscene in several places). He wants a girlfriend, but not if she's a virgin. He doesn't want to have to worry about any of that icky sex stuff.
Several of the performers, including Timothy Bottoms, Cloris Leachman, and Cybil Shepherd (Jacey, who dates both Sonny and Duane), have become strong gay allies. Boomer Bridges went on to play in several gay-subtext dramas.
See also: The Fabulous Bottoms Boys.