One can only marvel at Scorsese's direction on this one; coupled with the stunning and clever cinematography, this film paints a lovingly detailed tapestry of the lives of well-to-do New Yorkers, in the last quarter of the 19th century. Unusual little tricks of focusing, and light or color changes at dramatic points in the story serve to add extra emotional and romantic tension to the action.
As with many great films, a fine score often serves to elevate the story to an even higher level of quality. Elmer Bernstein's remarkable work here is superb, and beyond mere words. I shall never tire of hearing this beautiful score!
As for the acting, the entire cast is simply perfect. In particular, in my opinion the performances of Daniel Day-Lewis and Winona Ryder are the finest they have ever given. They truly become their characters, and in so doing, pull us full into this unique, and soon to fade away, dream-like era!