Attempting to revive the golden age of Italian cinema that featured such greats as Rossellini, Fellini, Visconti, Pasolini, and others, Luca Guadagnino has fashioned a sumptuous, elegant, and physically beautiful film called I Am Love or in its Italian title Lo Sono Amore. Unfortunately, while the film has moments of emotional power, it fails to coalesce into a satisfying whole and ends up feeling more pretentious than penetrating.

Written by Barbara Alberti, Ivan Cotroneo, Walter Fasano and Guadagnino and based on a story by the director, the film begins in snowy Milan in the winter. The very wealthy Recchi family, owners of a textile factory that it is hinted supported Musolini and the Fascists during the war, is having a dinner party in their aristocratic house catered by a host of servants wearing white gloves. The elderly grandfather and patriarch of the family Edoardo Sr. (Gabrielle Ferzetti) is about to retire, evoking the Visconti film, The Leopard. Shockwaves roll throughout the gathering, however, when he names both his son Tancredi (Pippo Delbono) and his handsome grandson Edo (Flavio Parenti) as joint controllers of the business. Befitting the family's pride, when Edo tells the group that he has come in second in a race, the elderly patriarch says "The Recchis never lose." The Russian born Emma (Tilda Swinton) is Tancredi's wife and mother of three grown children, sons Edo and Gianluca (Mattia Zacarro), and artist and photographer daughter Betta (Alba Rohrwacher). Though on the surface she is a loyal and supporting wife and mother and has made a complete adjustment to the Italian bourgeois way of life, underneath there is a growing boredom and discontent as sensed by her servant Ida (Maria Paiato). We get a hint of this stirring when daughter Betta reveals to her that she is a Lesbian and is in love with a fellow classmate in England. The longing for adventure crystallizes further when she meets Edo's friend Antonio (Edoardo Gabbriellini) who is a master chef who is planning to open a restaurant with Edo.

Joining her mother-in-law Allegra (Marisa Berenson) and Edo's girl friend Eva (Diane Fleri) for lunch, Emma's senses are fully awakened while eating prawns prepared by Antonio. Passing through San Remo on a trip to Nice to attend an exhibition to which she has been invited by daughter Betta, Emma unexpectedly bumps into Antonio who eagerly invites her to view the restaurant site. Despite the fact that Antonio is probably 10 to 15 years younger than her, this chance encounter leads to a bursting forth of Emma's tightly controlled sexual inhibitions and a swirl of passionate lovemaking in the rustic countryside, their engaged body parts mirrored by close-up shots of flowers and insects in a very poetic but overly aestheticized manner.

Reminiscent of Ibsen's 1879 play The Doll's House, the main thrust of the film is the repression of an upper class woman who suddenly discovers that there should be more zest to her life, presumably triggered by her daughter's openness in discussing her sexual preference. The love affair, however, triggers many changes in the Recchi family, both economically and psychologically. Tancredi is forced to sell their business to an Indian investor who explains that "capitalism is democracy". The scenes in London with the financiers are very strong but are treated as a minor sub-plot with the emphasis quickly given over to the family's psychological distress.

When Edo puts two and two together and realizes his mother's sexual adventures with his best friend, the result is tragedy for the entire family, a series of events handled by the director in an involving but melodramatic fashion. Though Emma has been praised by some for the courage she shows in breaking away from a static marriage, one wonders if a greater courage would perhaps have been shown if she had gotten in touch with the love she once had for her husband, fulfilled her solemn oath, "till death do us part", and resumed her responsibilities as a caring mother. While I was moved by much of the visual beauty of the film and the idea of breaking with tradition and listening to the voices within, I was infrequently emotionally involved with the characters and I Am Love felt distant and often contrived.

When have you felt most alone?

Milan. Winter. Upper-middle classes,Northern Italy. A dizzying array of people who all know each other and we don't.

Speaking about I Am Love, Tilda Swinton remarks, "Overcoming the idea of oneself, as created by society, has been one of my main interests since Orlando." In that earlier film, which was based on a novel by Virginia Woolf, Swinton's character self-reflected by seeing how society views her through different time periods and even a gender change. In I Am Love, Emma (Swinton) connects with love as a revolutionary force and throws off the shackles of a persona forced on her by circumstance.

I Am Love is unusual as an art film in that it is set in a world of exquisite luxury and good taste. It is not the simplistic attack on bourgeoisie we might at first expect. Working out the underlying moral fabric requires effort (but is richly rewarded). Love, or Emma, is no martyr to idealism. Revolution (of the social order) – or love – can only be justified by its success. Even the cinematic temptation to tragedy will extolled and then dashed through with a sword.

Russian-born Emma is Tancredi's wife. Tancredi co-inherits the family textile fortunes with his son Edo. Emma, although head of the household, is something of a show wife. With style and authority, but no clearly defined role in terms of business or of culture. The traditions and values of Tancredi's father for the former have maybe skipped a generation to the untried Edo. For the latter, to his sister and artist-photographer, Betta.

Secondary characters quickly provide clues to the theme. Edo's friend Antonio is an innovative, high class chef. Cuisine elicits a life-fulfilling passion in him for perfection and meaning. And Betta has a life of her own of which the parents suspect little. "Only you love me for who I really am," she tells Emma.

A superficial reading of I Am Love could leave the viewer with the impression of tragedy in which love has terrible consequences. It is essential to analyse what one actually sees (rather than a Hollywood ending that would have emphasised different points entirely). One can then imagine conversations over glasses of chablis, berating the section where the film goes 'oh so Lady Chatterley,' oblivious to how the film attacks that very same self-satisfied air of culture without visceral involvement. Even an interest in Swinton's breasts disguised by trappings of intellectual analysis. More lowbrow cinema-goers could feel even more frustrated at the 'missed opportunities' for histrionics, the emotional 'involvement' that comes from more manipulative screen writing.

I Am Love is social melodrama in the best traditions of Italian cinema. It lines up, surprisingly, more with works like L'avventura and that film's quest for self, than the compassionate criticism of an elite class in Il Gattopardo (The Leopard). In I Am Love, good taste and refinement is simply the medium for those with an ability and wherewithal to appreciate it – epitomised by Tancredi's father, his son, but perhaps not Tancredi himself. It carries no moral connotation. Empty shells on the other hand, form without substance, ultimately and unknowingly seeks its own destruction.

Tilda Swinton's career has forged a extraordinary path. In mainstream cinema, she has been hailed for work like Michael Clayton which, while impressive, hardly shows her skill in portraying worthwhile values (compared, say, to her portrait in Stephanie Daley). Or her powerhouse as an actress, in challenging cinephile gems such as The Man From London. I Am Love has potential to reach a wider, discerning audience, than her Bela Tarr movie, being shown not only in art house but as least one multiplex chain. It has an arresting, and rather beautiful romance at its heart, and one that becomes a striking metaphor for finding one's true course in life. It is ascetically 'thinking person's cinema' yet lovers of fine things can luxuriate in the sumptuous sets and costumes that inhabit art history and couture (Silvia Fendi, third generation of the famous luxury brand, was also an associate producer on the movie). Music is by Pulitzer Prize winning composer John Adams, and the perfectly choreographed closing scenes have almost operatic intensity.

One of the pleasures of writing a review is the opportunity to think a more deeply about the film - when one has to put words to paper. Only when forced to analyse the story, to separate the expected from what really happened, did I truly appreciate it. Swinton's Emma is no modern-day Madame Bovary. Style, plot and execution is far less predictable than it seems. Clichés of rich-poor, virgin-whore, as well as cinematic tropes that have become stale are effortlessly avoided. Confusing feelings are not indicated by fast cuts, but by unrelentingly staring at the character struggle in a long take.

I particularly like Swinton's power for creating interiorisation. This is visual acting at its best, showing what is going on in her head without having it spelt out. There are moments of exultation when she can barely contain herself. And moments when she struggles to stay on course – as we should, if we want to keep up. We find ourselves transfixed by her face in the bathroom. A place of privacy, where she can almost admit to herself the jubilation at a stolen kiss. And, like the art book she forgets to pay for, full of future portent. Or the moments when she is torn, at the climax of the film. The difficult self-examination in the midst of events. When Tancredi summons damnation in the words, "You don't exist," she has passed the point where she might cling to merely existing. Freedom is the power to 'go,' and to 'do.' Any avowedly lightweight cinemagoer might complain that the deaths are not dramatic enough. The cinematography not stark enough (to make us gasp in awe every few seconds at the beautiful surroundings) or the dialogue not self-explanatory enough.