Redford and Streisand are the mismatched pair (different class and ethnic backgrounds) who fall in lurve during their college days in the thirties, and suffer the trials of life up until the time they (and we) have had enough in the fifties.
Although the most memorable things are the outfits La Streisand wears, the film skims some interesting sub-plots, including the McCarthy witch hunts and the Communist-hysteria of the thirties. Streisand is capable in an implausible role as a liberated Jewess, and Redford is well, Redford.