The Magus in upstate New York? I don't pretend to understand the allegory but this little film does get under your skin. Patinkin exhibits a serene stoicism at the mercy of the gods - he reminded me of Terence Stamp's character in The Hit.

read the book instead

This is in my opinion an allegory about the history of human civilisation and specifically about the genealogy of capitalism, from indentured labour and Hadrian's wall until the birth of the proletariat, all encompassed within a somewhat Nietzschean perspective.

I agree that there's allegory in here, too, and I respect its subtlety. This movie is spectacular because it also simply does a lot of things that I've never seen in another film. And it does them with such grace and ease that you can forget what a unique story you're seeing. The performances are all excellent, parts of it are truly beautiful, and it does a first-rate job of maintaining a certain tension while navigating through the dramatic and comedic parts. Brilliant.