This is my favorite Leslie Caron movie. I like it even better than the wonderful "Gigi"--and that's saying a lot.
There are several elements of the movie that are outstanding. The cinematography and music combine to make an incredibly artistic film that helps to convey the love and sadness of the young lovers. The acting is generally top-notch--especially the supporting roles played by Charles Boyer and Maurice Chavalier. But most importantly, the overriding theme is unusual and profound (illegitimacy and the choices you make once this unwanted pregnancy occurs). This makes this film very adult in sensibilities and yet a good family picture as well---I certainly would want my daughters to see and learn from Fanny and Marius' experiences.
This movie has so many wonderful moments (such as Panisse's utter devotion and acceptance of Fanny and her baby, Cesar's confrontation of Marius near the end of the flick or Panisse and Cesar's game with the hat in the street) and overall it can't help but satisfy.
One of the absolute best films of the 1960s--though how it's becomes somewhat forgotten is beyond me.