Upon its release, in 1998, I recall viewing this as just another by-the-numbers teen sex comedy - and in some ways it is.
However it would be unfair to dismiss that this is far better than it has any business being.
While it's not wrong to lump this in with _American Pie_ or any other analogs, there really is a lot of heart along with the comedy - and as much as I love the raunchy style of some of the comedies from that era, this one keeps it quite clean (i.e., no nudity).
The plot here is all about trying to find love, though not focused on only one person, we get three stories woven together at a post-high-school-graduation party.
Many of the tropes are going to be obvious to anyone who has ever watched a teen movie. The comedy all works, even though some of it is so absurd that it dips into parody - the likes of which would be copy pasted by _Not Another Teen Movie_ three years later.
Moving on, the cast is perfect - seriously, just a who's who going on - the soundtrack has great selections from the '90s, as well as older songs that carry the emotional weight for the more serious moments.
I'd recommend this to almost anyone, especially people who like _Sixteen Candles_ or _Superbad_.