A lot of what this movie contains jibes with the exact things I've been researching in my quest to figure out if I'd like to try law school. Socratic Method, Case book studies, study groups, 1st year hell, Finals Uber-crunch time...and the lack of a life outside of law school. The romantic element adds a nice touch and serves as a necessary plot line to keep this from becoming just a boring law school trials and tribulations flick. It is actually relevant as it addresses the issue of maintaining relationships while in the midst of pursuing what is, for many, a lifelong dream in one of the most rigorous programs of study existing in post graduate education.
Keep in mind, however, that this IS just a movie. I can see this movie discouraging 90% of potential law school students from giving it a try. The main "antagonist" is a BEAR of a professor who is legendary for his role in humiliating students in class. At one point, he gives the movie's main character a dime as he says "Here's a dime. Now go call your mother and tell her that there is serious doubt that you will ever become a lawyer."
This film is almost worth giving a look-see just for the dated 70's hairdo's alone. Keep an eye out for the character by the name of Bell. So obnoxious and pompous you love him. The Paper Chase is a classic which needs to be seen by all.