Seriously. I just watched it at a local theater, and this film's got it all.
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Flashy fonts? Check.
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Cop three days from retirement that says "I'm too old for this shit"? Check.
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Cop on the loose goes rogue to avenge his partner? Check.
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Awesome new wave soundtrack? Check.
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Boobs? Check.
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Dicks? Check.
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Willem Dafoe being a psycho? Check.
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Car chase in the L.A. River? Check.
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Violence and blood spurts? Check.
The only thing this film needs is a good ol' dose of cocaine, although it is mentioned. If you haven't watched it, you really should give it a try. It's kind of a (way) more serious Lethal Weapon (this comparison isn't ideal, but I couldn't find a better equivalent), by William Friedkin (The French Connection), with William Petersen and Willem Dafoe.
The soundtrack is excellent (especially if you like 80s new wave), the story is gripping (a Secret Service agent goes beyond the scope of his powers to avenge his partner, killed by a money counterfeiter), and the cinematography is on point. One of the best movies from the 1980s that I've seen. If you liked Michael Mann's Heat or Thief, you should watch it.