A great acheivement for everyone involved. So many memorable and enjoyable scenes. This is what Tarantino is forever aspiring to. Great music throughout, including good instrumental scores and good use of modern (well, not any more) popular music. Sean Penn a superb and very hatable anti-hero, and Pacino as good as ever. Towards the end gets a bit wacky, as can be expected from de Palma (not intended particularly as a criticism).
The plot/acting is frequently unbelievable in little ways. The relationship with a dancer which has inconsistent emotion and is hugely under acted. The murder of a powerful gangster while high on cocaine lacks drama and steam. Generally trips along and maintains interest but lacks any depth of acting.
In many ways this is a companion piece to director Brian De Palma's earlier film Scarface (1983). The story of the life of a gangster and whilst the earlier film is a rise and fall story this is one about a criminal attempting to find redemption and live a normal life. Both feature a character from a minority group in American society in this case Puerto Rican. Carlito's Way is a more restrained affair than Scarface and Al Pacino plays the title character in a more relaxed almost lazy way. In many ways this makes the story quite unconvincing and De Palma, being at heart a genre filmmaker with his heart in the classics of the 40s and 50s, makes this too much a film noir or gangster film from those decades even down to the soundtrack and the romance built into the narrative. His camera positioning and the lighting are all highly reminiscent of classic period Hollywood. Carlito is a former drug dealer who gets early parole from a thirty years sentence and is determined to go straight. He has to get some money together first and so soon gets drawn back into the violent world of the New York drugs world. He's not helped by his coke addled and corrupt lawyer (Sean Penn) who drags him into a conflict with the mafia. There's not enough action and the story fails to really make you care for the characters one way of another. Well made but vaguely disappointing this is not on a par to many of De Palma's other films especially Scarface.