I saw it years ago, I have seen worse, I have seen better. I thought it was a pretty decent movie overall. A lot of its bad reputation IMHO was tied in to Hollywood power plays back then, there seems to have been a lot of jealousy about Cimino after "The Deer Hunter" won the Oscar.
You have a lot of movies which are declared instant failures, but later turn out to be classics, i.e.:
"Citizen Kane":
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Despite all the publicity, the film was a box-office flop and was quickly consigned to the RKO vaults. At 1941's Academy Awards the film was booed every time one of its nine nominations was announced. It was only re-released to the public in the mid-'50s.
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The American Film Institute's poll ranked the film #1 on its list of greatest American movies of all time in 1998, and again on the anniversary list from 2007.
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http://www.imdb.com/title/tt0033467/...ef_=tt_trv_trv
"Vertigo":
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Alfred Hitchcock was embittered at the critical and commercial failure of the film in 1958. He blamed this on James Stewart for "looking too old" to attract audiences any more. Hitchcock never worked with Stewart, previously one of his favorite collaborators, again.
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In 2012, Vertigo replaced Citizen Kane (1941) in the Sight & Sound critics' poll as the greatest film of all time.
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http://www.imdb.com/title/tt0052357/...ef_=tt_trv_trv
One film I consider an undiscovered classic and IMHO, one of the best westerns ever made is:
"The Assassination of Jesse James by the coward Robert Ford":