Awesome flick, definetely a lot better than I expected. Tarantino does more than borrow a few elements from this one, his flicks are almost an updated, coked up version of the same characters and plot. I have definetely lost some respect for Tarantino, seeing the amount of borrowing that he does from Malick. The daydreamy narrative voice over the catchy tune in True Romance was one of my favorite elements of the movie, a carbon copy of Sissy Spacek's deep thoughts in this one.
Martin Sheen is awesome in this one (and I didn't realize until this just how much Emilio looks like him). Amazing how he desensitizes the audience to the killings...nothing about any of them seems brutal or gratuitous...more like a natural selection, a mere consequence (Whether or not he shot the rich man and his deaf maid wouldn't have made a difference either way).
Fired up to hear you liked it so much. It ranks among my favorites. You might also enjoy Malick's other film from the 70s: DAYS OF HEAVEN. Not nearly as badass as BADLANDS, but a beautiful film nonetheless.