Stylized, but may not fit everyone's taste.

Rating: 8/10 (6 December 2015)

I wouldn't call this a must-see for any form of movie fan. It's great and doesn't give the illusion of perfection, but there are problems. However, if you want to get a career in production, especially as a screenwriter, director, or DP, you should watch it if only for instructional purposes. As a whole, it's memorable and therefore it isn't surprising that it's regarded as a classic film.
The story follows two outlaws who start off robbing trains with their cronies, but later have to go on the run after their band is killed by law enforcement. We see nothing of our antagonists, who are loosely named but never have any development. We are meant to like Butch Cassidy because of his light-hearted optimism more than the sullen and irritable Sundance. Butch also seems to have more self-confidence and is okay with what he does, whereas Sundance tries to hide behind facades of toughness that betray his fears, making him seem almost cowardly instead of rationally afraid. What is interesting about their friendship is that they seem to know very little about one another and yet have complete faith in each other. It makes you wonder what it was like when they first met. They seem to have been friends for a decent amount of time and are familiar with the other's tendencies and personality. With the pair throughout some of their escapades is their shared lover Etta Place. She is pretty well written for her type of character, clearly transcending the social norms of women in her setting and perhaps even those of the 1960's. She is not objectified or portrayed as weak, but neither is she a man-eater that can combat law enforcement single-handedly like a female superhero. Basically, we can see that she is a strong woman without ever actually being shown it.
The plot can cater to fans of pretty much any genre because it contains elements of several genres, but none is overly prominent. There is excitement and the illusion of action throughout, but the only true action set piece comes at the climax. There is a romantic plot with Butch and Sundance trading Etta, but it's not overly prominent. There is a bit of mystery in who is chasing the two/three outlaws. The western setting and bank robbing scenes also cater to fans of westerns and crime movies. And, as with any work of cinema, there is a feeling of dramatic conflict throughout. However, none of these plot lines are ever fully resolved, which might be disappointing. The ending, while picturesque, doesn't bring a satisfyingly final conclusion to any of the story's conflicts.
In a production sense, the film is a masterpiece. The directing and camera-work is very artsy and distinct, particularly at the beginning. If the entire movie had been shot as well as the first thirty minutes was, I would have loved it, but instead I just liked it. The only place where the stylized photography didn't work for me was the four minute montage of black and white pictures that showed the three characters traversing the east coast. The script is very well done in a dialogue sense, though pacing is an issue at several points. Newman, Redford, and Ross give us three great performances as well and bring the characters to life before us.
I would recommend this to most viewers, but do strongly advise that you have an open mind while watching it and try to appreciate it. I know that this isn't always possible, but it's still worth trying here. If you aren't enjoying it by the time the characters depart for Bolivia, it's probably in your best interests to stop. For those who see it through, you might think it's overrated, perhaps rightly, but it stands the test of time better than most films. Overall Rating: 8/10.