I liked it a bit better the second time around but the wobbly camera was a distraction, unnecessary and irritating. The set designers and alien makers deserve the extra star.
Many films of two hours or more overstay their welcome but this one is worth all its time. It has a good literary base to draw on and the right casting and direction.
It is still a fine film 40 years on and still an uncomfortable watch. Alan Parker in the "Making Of" says no actor that has worked for him has put more into a part than Brad Davis.