It truly is an injustice that the late Peter O'Toole never won an Oscar. His performance in My Favorite Year is one of eight he was nominated for, and of all the roles I've seen him in, this is my favorite.
1954 is the titular favorite year of Benjy Stone (Mark Linn-Baker), a freshman writer for a variety comedy show starring Stan "King" Kaiser (Joseph Bologna). To Stone's delight, his favorite actor, swashbuckling movie star Alan Swann (Peter O'Toole), is scheduled to be the guest star on an upcoming episode. Unfortunately, Swann is a hardcore alcoholic, and when he shows up to the studio drunk, Kaiser's ready to replace him. Stone pleads with Kaiser to give Swann another chance, and Kaiser reluctantly agrees - as long as Stone keeps an eye on Swann and keeps him out of trouble. Otherwise, not only will Kaiser give Swann the boot, but Stone as well.
This is a sweet movie with lots of hilarious moments and wonderful performances. It's definitely a must-see - if you can get a hold of it, that is.