These days, it is fondly remembered as one of the weirdest and best rock movies ever made, and a harbinger of the so-called New Hollywood. Quentin Tarantino and Edgar Wright are both fans. DJ Shadow and Saint Etienne have sampled its dialogue. According to director Bob Rafelson, the Beatles and the Rolling Stones both requested private screenings, while Thomas Pynchon attended a screening disguised as a plumber.
http://www.guardian.co.uk/music/2011/apr/28/monkees-head-jack-nicholson-interview
During the fall semester 2012, students of Sean Carswell's Major American Authors course at Cal State Channel Islands used this blog to create a class wiki, in which they investigated the cultural context of Thomas Pynchon's Against the Day and reported on these issues for one another. This is the resulting blog/wiki. The class posts ran from September-December of 2012. Hopefully, these posts will enrich your experience of the novel.