Watching this film again after many years, I was struck by just how physically beautiful it is. Otello Martelli's black and white cinematography is delicious. His framing is delicious too. I could just put on music and look at the film with sound off for three hous and never get bored. And the 2-disc collector's edition DVD makes it look, not fifty years old, but crisp and new. Plus you get Richard Schickel's commentary, if you want it. I like listening to the guy - he sounds just like Wally Shawn.
Other things that struck - the careful attention to directing minor and even walk-on characters. Like the blond girl with braids in the so-called 'orgy' scene (has to be the most G-rated orgy on film). She minces around on little cat steps in the most unforgettable way. Or Paola - the 'angel girl' at the end - what a face! She really does look like a Botticelli angel.
I've decided to try try to see everything Fellini ever did.