Teenager Bobby Keller confesses to his friend Dinger that he really likes Lainie (or, as Dinger refers to her, "looks-good-in-a-leotard-Lainie"). Bobby is also having dreams – the same dreams as an old man named Coleman who lives near school. Coleman is completely in love with his wife and wants to be together with her for as long as possible. This has led him into dream theory, trying to find where dreams and reality intersect because if you can live a dream you can live forever.

While Coleman and his reluctant wife are doing a dream/relaxation experiment outside in their yard, Bobby and Lainie accidentally collide while "shortcutting" through Coleman’s yard. A transition occurs: Coleman ends up inside Bobby’s body and Coleman’s wife, Gena, is repressed inside Lainie. Bobby is sent to stay in a surreal dreamland.

Now, as Bobby, Coleman tries to convince Lainie as to what happened. He takes her to Coleman’s house. He takes her to dinner….and all the places Coleman took Gena. Lainie is forgetting things Lainie normally wouldn’t forget (i.e. – dance steps, her locker combination) and is remembering things Bobby/Coleman is showing her. And she is falling for him…and is not sure why. Lainie then has a dream, the same dream as Bobby/Coleman, and is finally convinced he is telling the truth. She is told not to fall asleep that night so the transition can be reversed; after that night it will be too late. Bobby and Lainie go to Coleman’s yard to duplicate the experiment so everything can be reversed but they are interrupted when Bobby is called upon to stop a fight. Meanwhile Lainie goes home and her mom and her boyfriend give her a sedative. She fights to stay awake but falls asleep.

Bobby is anguished. He goes to sleep and when he wakes up, all is back to normal. Faith was all it took. Coleman and Gena are back together and Bobby’s dream of being with Lainie is now reality.

This was without a doubt one of the best of the "switched identity" movies of the 80s. It is creatively shot and nicely edited. The dream sequences are wonderfully surreal and disconcerting. The soundtrack features wide-ranging music from the likes of REM, Van Morrison, and Sinatra. The acting is top rate: Jason Robards as Coleman, Piper Laurie as Gena, Harry Dean Stanton as Coleman’s buddy Ike, Victoria Jackson and Alex Rocco as Bobby’s parents. The 80s teen idol duo, the two Coreys, (Corey Feldman as Bobby Keller and Corey Haim as the wacky sidekick, Digger) star. The two Coreys are the epitome of 80s icons in their clothes and moussed hair. This is definitely the best acting the two of them have done.

Meredith, as Lainie Diamond, sparkles radiantly. Lainie, like Natty Gann, is independent and strong. Meredith has several great scenes as Lainie when she is confused, and somewhat embarrassed as she begins the transformation into Gena. Her bewilderment as she can’t remember her locker combination or dance steps is conveyed exceptionally well. Her slow realization that something is wrong is nicely portrayed. Other standout acting moments are her anger at Bobby when he keeps insisting they are the "old couple". For her, this is ruining their evolving romance. Her conflict with her alcoholic, meddling, low-self-esteem mother is also well played. One scene which should go down in the "Cute Movie Scene Hall of Fame" is the one in which Lainie is dressed in black and white leotard, top hat and cane as she begins to practice a dance to "Dream a Little Dream". Into the gym dances Bobby as he flirts with her and she smiles, gyrates, and flirts right back. It must be seen to be appreciated.