I will admit that I did not give this movie much of a chance. I decided pretty early on that this just wasn't my kind of movie.
For the most part, it has an excellent look in terms of its cinematography. The scenes of early 70's Manhattan look very good, as does the lead actress. It is a very crisp black and white, which could almost make the movie feel undated and fresh. However, some of the other techniques the filmmakers employ shoot that prospect all to hell. The disjointed editing is VERY late-60's, somewhere between surrealism and new wave. The story also feels like it came from a very specific time, somewhere between free love idealism and artsy experimentation.
The film follows a young girl around the city as she looks for a man who she had anonymous phone sex with. As she meets other odd characters, she reveals her quirks and they reveal theirs. The movie seems to be meant as an off-the-wall, irreverent comedy, but adds an avant-garde feel. I would expect that if you like Andy Warhol movies, you would be very excited to discover The Telephone Book.
Some problems I had: Near the end of the movie, one character tells a rambling anecdote that lasts over twelve minutes—-brutal to sit through. Also, there is a very explicit animation sequence that I found gross and juvenile that serves as the film's climax. I did laugh out loud four or five times, and I liked the ending (minus the flat-out disgusting animation). And when the film switched to color for the final phone-booth-at-night sequence, I actually liked the way it looked even better. It ended up being one of those experiences where I felt like I could have really liked it if it been a little different. But this is what the filmmakers gave us. It is obscure, artsy, and way left of the dial, but none of those are reasons to recommend it on their own. I didn't find it to be unique or creative so much as forced and pretentious.