Okay, then, Risselada. I think you and I are on the exact same page. So we can begin discussing masterpieces instead of definitions. If anybody else wants to join in, go right ahead. The discussion is of our own personal opinion. That's what makes Spout so great (and also the IMDb message boards).
I have not seen Ed Wood. I've been trying to get my hands on a copy of it for years. I could order online, but I don't like paying for something that I don't already have in my hands. You may be right about it being his best movie, and you're spot on about both movies' themes of reality vs. fiction.
By the way, if anybody's seen The Chumscrubber, I would love to discuss it with you.
As for the original question...
I think Kevin Smith is a director who has a masterpiece in him, but hasn't yet conceived it. Sure, his films are gross and vile. Yes, he keeps getting sucked back into Jay and Silent Bob. His movies seem to be made for his friends, and those of us who like his movies just happen to be a lot like his friends. But Chasing Amy was the movie for me where I knew that he had it in him. Chasing Amy discussed a subject matter (homosexuality) that is put into a lot of movies these days. Unfortunately, these movies typically get called "Gay Film" and wind up being cult movies that never hit theaters or the shelves at Blockbuster. Either that or they turn into romantic comedies for a different crowd. The other theme of Chasing Amy (friendship) is one he deals with tentatively and tenderly.
I think Kevin Smith has some serious potential. He needs to read up on how to operate a camera in a way that it allows the audience to feel less like they're watching a movie and more like they're involved in the storyline. He also needs to stop casting Ben Affleck in leading roles. He needs to make another movie without Jay and Silent Bob (or at least throw them into the background, as in Chasing Amy), but not go into it thinking it's going to be his masterpiece (like he did with Jersey Girl).
I know someone's about to tell me I'm stupid and that Smith is a "hack" director, but I would still love to hear your thoughts. Sometimes I just need someone to tell me how much my idols suck for me to realize I've been just as in love with them as kids are in love with Mooby, the Golden Calf.