Henry Jaglom’s latest let-it-all-hang-out gabfest, this one set in a beautiful, about-to-be-destroyed Los Angeles theater, where Jaglom invites his friends on Valentine’s Day. It certainly has its moments–most of them provided by Orson Welles (in one of his last extended film performances), his vivacious long-time companion Oja Kodar, and the venerable Sally Kellerman–but most of this largely improvised movie, as critic Elliott Stein has pointed out, is pretty much the equivalent of the Donahue show, with all the strengths and limitations that this implies, and Jaglom’s own earnest inquiries about what makes so many people lonely can get a bit cloying after awhile. However, Welles, as the equivalent of a talk-show guest, is very much in his prime, and his ruminations about feminism, loneliness, drama, and related subjects certainly give the proceedings an edge and a direction that most of the remainder of this floundering movie sadly lacks. Among the other participants in this encounter session are Jaglom’s brother Michael Emil, Andrea Marcovicci, Ronee Blakley, and Monte Hellman. A Chicago premiere (1987). (Film Center, Art Institute, Columbus Drive at Jackson, Friday through Sunday, October 7 through 9, 6:00 and 8:00, 443-3737)