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The day that Merchant Ivory Costume Drama Inc runs out of novels by Messrs Forster and James, its Board Of Nostalgics (producer Ismail Merchant, director James Ivory and scriptwriter Ruth Prawer Jhabvala) will have to hang up their corsets, breathe out for the first time in years, and leave for starched retirement in Venice, Paris, or some other picture-postcard leftover from the Grand Tour. The present scares them like the plague, while their scrutiny of the elitist, solipsistic world of turn-of-the-century "society'' lost its bite a long time ago.

Now the novelty's over, it's difficult to engage, let alone sympathise with protagonists who treat "work" like a dirty word and who flit from one vacuous "engagement" to another with all the imagination and vigour of a tankful of fish. When, in this film, society tongues start wagging at Amerigo's sexual shenanigans with Charlotte, one defender says: "Don't forget the man is in a position where he has nothing in the world to do". Indeed. So who gives a shit?

There's no denying the perverse intrigue generated by this unlikely family, with old man Verver, despite marriage to the nubile Charlotte, disturbingly obsessed with his daughter, and Charlotte and Amerigo, the wildest mother and son-in-law in town, flaunting themselves at lavish parties. And Nolte is great as the only character with a work ethic, the industrialist who dreams of creating a museum of European art in his hick town.