Agree completely. One of my all-time favorites. Much of the credit must go to Paul Attanasio's amazing script and of course the brilliant actors. Redford's direction isn't visually inventive (even with Michael Ballhaus as DP), but he captures the actors, particularly reaction shots, beautifully. It was overshadowed by all of the other Best Picture nominees that year, but I maintain it holds up best of all of them, including Pulp Fiction. It takes a small historical footnote and manages to illuminate timeless themes in an entertaining, intelligent way without hitting the audience over the head with 'meaning'. Hoping Criterion releases it eventually. I'd take a decent release from any label at this point.
As an actor, Redford always seemed a little uncomfortable/uneasy with his own good looks (Paul Newman shared this trait) and usually resisted playing to that obvious strength, even when the role called for it. It created some uniquely effective performances in roles that would be much more ingratiating in the hands of a different actor. I love the way he leans into the arrogant pricklyness of the character in Downhill Racer. Same with The Way We Were. His performance has a slight edge that almost prevents it from being a complete schmaltz-fest. I like him a lot as Gatsby in Jack Clayton's very underrated film of that novel. His natural reserve and slight unease about his own status mirrors the character. His performance in All Is Lost is so still and non-effusive that it enhances the vaguely spiritual notions that Chandor seems to have for the film.
Having said all of that, I'll probably watch Legal Eagles in tribute. It's good to remember that even legends stooped to making dumb trash once in a while, and that is OK by me. RIP RR.