This looks like a made for TV rush job; perhaps they heard a blockbuster version was in the works (Cameron's mega-hit the next year), and hurried to finish this before the release of it. These coat tail copies have been done before. In any event, this effort at relating the infamous maritime disaster of 1912 is big on ambition, but crippled by low budget.
There are distinct parallels to its more famous 1997 cousin. You get a Jack & Rose type romance, which is written very awkwardly. Catherine Zeta-Jones and Peter Gallagher did their best with it, but it really doesn't evoke the passionate emotion intended. Overall, the idea of the soap-opera entanglements of several characters is a good plan, and the actors mostly do well. However, the constant heavy-handed bashing of rich people is about as subtle as a repeated blows to the head with a tire iron; it really gets old. In particular, the slant on Molly Brown was so far afield it was just dumb. I thought George C. Scott was pretty good as the ill fated Capt. Smith, who inherits the lines of the Titanic's designer, a character that is in other versions, but deleted from existence here.
The film makes an earnest effort to portray the horror and sorrow of the tragedy, but one blunder really hurt the effectiveness: to show the gradually increasing listing of the ship, the director simply has the camera turned at a slight angle, but fails to have the actors lean in the direction. The painfully comic result is characters standing perfectly upright at odd angles where their center of gravity would force them to lean. Also a problem was the unnecessary house-thief crewman (Tim Curry) still wandering around burglarizing state rooms as the water gushes in all around him. Even worse, the character is played as a constantly giggling idiot.
The montage sequence was a good answer for the limited resources available, and the protracted epilogue aboard the Carpathia might have worked better had it been dedicated to giving fates of real survivors; instead, we get the schmaltzy and unrealistic fates of fictional people.
Just fair entertainment, and hardly a good source for the history of the event. If you want the best historical approach at the Titanic's story, see "A Night to Remember," and if you prefer a highly dramatic and fictionalized version, the 1997 Titanic is better than this one.
