Well, it has almost everyone that could really act in the 90s in it. That is a plus.
And Stallone actually does a great job of being a washed up no-nothing out of shape small town sheriff. He rarely takes roles that actually require him to act so it's always a shock when you see films and realize that, no, Sly is in fact really a stellar actor. This is one of those movies.
It's also one of those movies that stays with you as a classic. Not as well known as Chinatown, but the kind of movie where, after you forget about it, you get the chance to re-watch it and realize once more how great it actually was.