so once again i find myself watching boogie nights, i think it's my new favorite movie.

Does anybody else like it? tell me what you think.

I didn't like it nearly as much as the other P.T. Anderson films, like Magnolia, and Punch Drunk Love

I totally disagree with Durden.
Boogie Nights is unbeleivable! It gets better with every viewing. The directors commentary from PT Anderson is one of the best around, he doesnt take himself too seriously yet is funny and informative.
Plus you cant go past some of the technicalities of Boogie Nights, for example the poolside party sequence which is almost 5 minutes long-go's around the party, into the pool and back up again for dialogue! An exellent film!