To the question of the day--what does $200 million buy?--the 3-hour-and-14-minute "Titanic" unhesitatingly answers: not enough.
Note that despite the hopes of skeptics, aghast at the largest film budget of modern times, money enough to run a full-dress presidential campaign or put a serious dent in illiteracy, the answer is not nothing. When you are willing to build a 775-foot, 90% scale model of the doomed ship and sink it in a 17-million-gallon tank specially constructed for the purpose, you are going to get a heck of a lot of production value for your money. Especially if your name is James Cameron.
More than that, at "Titanic's" two-hour mark, when most films have sense enough to be winding down, this behemoth does stir to a kind of life. With writer-director Cameron, a virtuoso at large-scale action-adventure extravaganzas serving as ringmaster, the detailing of the ship's agonies (compressed here from a real-life two hours and 40 minutes to a bit more than an hour) compels our interest absolutely.
But Cameron, there can be no doubt, is after more than oohs and aahs. He's already made "The Terminator" and "Terminator 2"; with "Titanic" he has his eye on "Doctor Zhivago" / "Lawrence of Arabia" territory. But while his intentions are clear, Cameron lacks the skills necessary to pull off his coup. Just as the hubris of headstrong shipbuilders who insisted that the Titanic was unsinkable led to an unparalleled maritime disaster, so Cameron's overweening pride has come unnecessarily close to capsizing this project.
For seeing "Titanic" almost makes you weep in frustration. Not because of the excessive budget, not even because it recalls the unnecessary loss of life in the real 1912 catastrophe, which saw more than 1,500 of the 2,200-plus passengers dying when an iceberg sliced the ship open like a can opener. What really brings on the tears is Cameron's insistence that writing this kind of movie is within his abilities. Not only isn't it, it isn't even close.
Cameron has regularly come up with his own scripts in the past, but in a better world someone would have had the nerve to tell him or he would have realized himself that creating a moving and creditable love story is a different order of business from coming up with wisecracks for Arnold Schwarzenegger.
