Peyton Place is everything you saw in Twin Peaks played straight: a monstrous, incestuous stepfather who's exposed, a big mill that dominates a small town, a high school simmering with good-teen and bad-teen types eager to switch roles. But this quintessential slice of uptight '50s morality now seems so repressed it plays just as bizarrely as anything from David Lynch, and the fish-eye distortion in the early wide-screen lenses gives a feverish edge to the New England scenery. The dialogue, too, is pure camp, never riper than when one rowdy tells his textile-maven dad, ''Quality's a good thing in woolen cloth, but it's very dull on a big date.'' B


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