Despite loving Rita Hayworth, finding the final few sequences of the film intriguing and being able to appreciate some of the subtler "symbolic" aspects of the cinematography, The Lady from Shanghai didn't quite work for me. I had a problem with most of the performances, the script and the overall structure. And in a film that's mostly people talking with each other in various situations, that's quite a problem. The Lady from Shanghai ended up at a very low "C", or a 7, for me.
The Lady from Shanghai is really all about Orson Welles' character, Michael O'Hara. O'Hara sees Elsa "Rosalie" Bannister (Rita Hayworth) in Central Park on a carriage ride and hits on her. Later, he saves her from a mugging and she takes a shine to him. O'Hara is a seaman from Ireland and the globetrotting Elsa happens to own a yacht with her husband, Arthur (Everett Sloane), a very famous and powerful California defense attorney. They talk O'Hara into working for them, despite his initial reservations--it seems to him, and to the audience, that Elsa is just looking for someone to have an affair with, and O'Hara doesn't want to get involved.
Shortly after going to work on their yacht, a strange man, George Grisby (Glenn Anders), who says he's Arthur's partner, shows up at a port of call and begins stirring up trouble. Eventually, Grisby asks O'Hara to enter into a very dubious and dangerous scheme. Foolishly, O'Hara agrees. Naturally it gets him into quite a bit of trouble, and eventually, a number of mysteries are revealed.
Maybe my problems with the film lie in the fact that, so far, I'm not exactly a huge fan of Orson Welles, and here, he produces, writes, directs and consumes most of the screen time. I haven't seen anywhere near the majority of Welles' work yet, but I've tended to like his later films better, when he became a bit more campy and performance-arty. I love F for Fake (Vérités et mensonges, 1974) for example, and I even kind of like his performance in Casino Royale (1967), when he bizarrely insisted on being allowed to do magic tricks at a baccarat table, but Citizen Kane (1941) never did much for me, despite giving it 3 or 4 chances over the years (including about one year ago; my rating was a low 7--the same as my current score for The Lady from Shanghai).
Welles' performance and the dialogue he's written for himself come across as affected and pretentious to me. He's a bit of a motormouth, a bit of a boor, and a bit monotone--he tends to sound like he's reading. His performance reminded me of what I've seen of Welles' version of Moby Dick (listed on IMDb as 1999, but "completed" in 1971, it can also be seen in Orson Welles: The One-Man Band (1995)), where he seems to be just reading to the camera and believing that he's inherently, sublimely dramatic. I'm also someone who almost never complains about accents, but somehow Welles manages to make his Irish accent sound affected and pretentious to me, too.
As for the other performances, I can only say I thought Hayworth did an excellent job. Of course she's gorgeous, which doesn't hurt. Plenty of eye candy here. Like Welles, Sloane also seemed a bit affected and pretentious to me--I never quite bought his character, his handicap and so on, and Anders is simply bizarre where bizarre doesn't seem to fit. Welles often shoots him in close-up and Anders almost always has some over-exaggerated, manic expression on his sweaty face.
Structurally, The Lady from Shanghai is very uneven. The first 50 minutes or so are extremely bland and soap-operatic, although the soap opera ministrations tend to be approached from a tortuous oblique. Once Grisby introduces his scheme, things pick up a bit, and mostly improve as we near the end. But by the time The Lady from Shanghai becomes a crime/mystery film, it's too little too late, and it quickly turns into a courtroom drama before the sudden, thrilling ending that comes almost out of nowhere and is over far too quickly for its relative excellence.
The ending is more action-oriented, less-dialogue heavy, more varied and exotic in settings, and at times, fairly abstract. Welles handles that combination of material skillfully as a director. If The Lady from Shanghai would have been a largely a combination of the crime/mystery stuff and the arty ending, it could have easily been at least a 9. The final scenes are easily 10s, as Welles shifts from a Hitchcockian suspense scene in a San Francisco Chinese opera house to another suspense scene in a Chinese amusement park. The funhouse climax uses cinematography that was experimental for its time. It's well integrated with the script, as it allows a complex resolution and fuels a lot of symbolism.
The cinematography throughout is interesting, even if it usually can't make up for the problems in the foreground. Welles blocks scenes with skill. There are lots of attractively filmed settings, from Central Park to Acapulco to various San Francisco locations. Welles effectively creates symbolic backdrops for his action, from the emphasized heights and precipitous drops of Acapulco to the maze-like Caribbean streets, the beautifully framed and silhouetted shots of the San Francisco Aquarium, and so on. The romance material, for which the Aquarium serves as one backdrop, is interestingly tempered with a kind of unease throughout the film, but on the other hand, that makes the romance never quite work as romance.
Surely serious Welles fans will appreciate The Lady from Shanghai much more than I did, and of course it's worth a watch if you love Rita Hayworth. The Lady from Shanghai isn't exactly a terrible film, in my view, but it's dangerously close to not "passing". Proceed with caution.

Anyone familiar with my reviews on the Internet Movie Database will know that I can be a grumpy bastard from time to time. There are a lot of films I don't like which, for some unfathomable reason, I've felt the urge to review. However, if anyone out there is curious to know the name of the worst film I've ever seen, look no further than Transylvania 6-5000. Without question, this takes the title of the all-time no. 1 awful film. I can't believe that I actually made it from the start of this clunker to the finish!
It is clearly meant to capture the flavour of Mel Brooks's Young Frankenstein, but where that film was a funny take on horror movie traditions, this one is a desperately strained and misguided attempt to wring laughs from embarrassingly weak material. Jeff Goldblum and Ed Begley Jr look ashamed to be here as a pair of journalists in modern day Transylvania (perhaps they realised early on that they were doomed in this dud). During their research, they come up against all the chief monsters from past horror favourites, such as vampires, werewolves and mummies.
Anyone who manages to brave this film right through to its end may pray that a stake be driven through their heart to relieve them from the agony of boredom. It marks a career nadir for everyone involved and proves that when comedy fails in a big way, it results in awesomely dire entertainment.