Great writing, great acting, acceptable sets and special effects. Sandra was still considered perky and cute, Sly could still pull off leading actor, and Snipes was on a roll to show everyone what he could do. Even Denis Leary's lame rant couldn't bring it down. It holds up pretty well - good performances are all you need.
I was hanging around Hollywood when this came out, my cousin had a place above the strip near the theater where the premiere was, and they had the traffic blocked off, and the cars from the movie circling the block - we almost crashed into one, lol. Sometimes we'd walk down to see the stars show up, but we were on our way somewhere that night, probably a club to see a band.