THE SPY WHO LOVED ME is a very mixed bag - good in parts, and excellent in places, but it's also overlong, with stretches of boredom and/or silliness. It's severely overrated - mostly by non-hardcore Bond fans, though, I've found. No way is it the best film of the series, or even close. Neither is one of the worst. It's a solid middle-of-the-pack outing that's somehow managed to acquire a glittering reputation (probably because it's undeniably the iconic image of the Moore era at its commercial peak).
Personally, I place it as #1 because I enjoy watching it more than any of the other Bond films. Perhaps that makes me less than a hard core Bond fan
. Either way, most people rank it above middle of the pack (even if it's not their favorite), not because of any reputation, but because I think they genuininely enjoy watching the film.
Regards.
Well, I won't argue with any of that, and I'd certainly never say that anyone is less of a Bond fan for liking such-and-such film the most. Heck,
my favourite Bond flick's THE MAN WITH THE GOLDEN GUN, which definitely puts me in a
very tiny minority of 007 fans!
People genuinely enjoy watching the film? Fair enough. I do, too, although I'll admit to being bored by the final battle and rather dragged-out ending. It's a film full of truly great moments (mostly in the first half, though, IMO), and definitely more iconic images than probably any of the subsequent series entries (Jaws, the Lotus going underwater, the ski jump....). But that isn't to say that it doesn't have flaws, and I don't see that it's really a superior film to many of the other Bonds. What I will say, though, is that the series would be a little poorer without it (just a little, though

).
I mean, I'm not out to slam THE SPY WHO LOVED ME, but, yes, I do think it has an undeservedly high rep (along with GOLDFINGER* and, following its relatively recent rehabilitation in fandom, ON HER MAJESTY'S SECRET SERVICE).
*As with TSWLM, I think GOLDFINGER has an absolutely brilliant first half, but loses a lot of steam from there. And, like TSWLM, it's full of iconic images and memorable "movie moments", which means it's praised rather more than, as a film in its entirety, it deserves.