I loved Boogie Nights. It had the most obvious denouement of anything I've ever seen I think. That being the firecracker scene - it was just so bizarre and out there and then everything falls apart after that.
I saw Magnolia and I thought it was beautiful. I caught all the biblical references and then looked them up - saw that it was referencing "and I shall rain down a hail of frogs upon you" and sure enough, it did that in the movie.
So I was looking for the overall meaning, and still wasn't getting it.
I figured the director must be clever and I was stupid, I had to know.
So then I rented the DVD and watched the extras - while the making of the frog stuff was cool, still didn't explain it.
Then I saw an interview with him and he said that he had a series of weird dreams and this movie was just about and based on those dreams. He just wanted to explore the weirdness of them.
I think it was beautifully done - but if I want a beautifully done dream state movie, I will watch a Lynch movie like Mulholland Dr.
Punch Drunk love was another one where it started off, and I was into it - the cinemaphotography is fantastic. It had the same offbeat and slightly existentialist feel to it that Rozencrantz and Guildenstern (sp?) had - but better look and feel due to the time difference.
Then he goes out and the car flips. I didn't get that. Then he had little odd unexplained weird things in it - which is sort of his trademark I guess.
My general opinion of it is that he tries to hard and it comes off looking like really really really well budgeted and excellently done film school flicks that try to hard.
Another director that comes to mind with that is the fellow that did Pi and Requium for a Dream (sp?).
It is like watching it and seeing that he is thinking "okay, we learned to do this in film school... and this.. oh, and this... yeah, gotta do this.. and this... etc" - I studied that in school and they also tell you to go sparse on it and not to beat it over people's heads or you insult them.
That said, they keep getting the Hollywood funding and the big names... so go them.
I personally don't like Anderson's films, but yet I still watch them to see if he is doing the same things I don't like this time around as well.
Boogie Nights I still rather like as a whole, even with the obvious "I'm the up part, I'm the odd turning point, and I'm the crazy down turn" denotation.