There's been a lot of good writing done on the film, including this from driftingclouds and filmmaker Mary Brownstien's piece from HammerToNail. I was really struck by the quality of the performances and Loden's willingness to let the camera linger. You can tell she is working with a tiny crew (4 people evidently) and the level of intimacy she achieves is a marvel. The budget, back in the day, was $115,000. It is required viewing.
8/31/10 Update: The New York Times just reported that WANDA is being restored. Time to rejoice!