Douglas is always believable as the half-rotten hero, Jeanne Tripplehorn is a real find as his ex-lover, and Stone (who played Arnold Schwarzenegger's devious wife in Verhoeven's "Total Recall") comes through with the kind of dazzling icy/hot performance that made a star of Kathleen Turner in "Body Heat."
In this regard, the film is a perfect bookend to Body Heat , which doesn't even try to hide the fact that it's nothing but Double Indemnity with Kathleen Turner's tits on display, only where Body Heat was still trying very much to be erotic (and succeeding), Basic Instinct is too cerebral and curdled to really land on that level, and it's not aiming to, I don't think.
But the script, by Joe Eszterhaus (which reportedly got Hollywood into a bidding war and ultimately sold for the record-breaking price of $3 million), is a rag-tag mishmash that recycles everything from "Dressed to Kill" and "Body Heat" to "Cruising" and even Eszterhaus' own "Jagged Edge."