Bill Donovan’s documentary feature, eight years in the making, about Michael Hernstadt, a gun-toting millionaire who ran for political office twice as a libertarian candidate, advocated cutting taxes and televising executions, and was shot to death by the chief of police of Aspen, Colorado, after an argument at an all-night drug party. The subject is fascinating, but the treatment is disappointingly cursory for the most part. Friends and relatives offer bite-sized psychoanalytical theories about Hernstadt’s isolated childhood, and the subject offers several spiels of his own. But on the whole we seem to get too much theorizing about the man and not enough straight information. (JR)