A review from The Movie Snob:

Being Julia (C-). They say Annette Bening is gunning for the Best Actress Oscar this year based on her performance in this movie, so I thought I should check it out. I guess her performance was good, but the movie really wasn't. The setting is pre-WWII London, and Julia Lambert (Bening) is an aging queen of the stage. Her marriage to Michael (Jeremy Irons) is little more than a business partnership, and she is weary of the theatrical grind (or at least she acts like she is; her whole life seems like a performance). Then a young American admirer sweeps her off her feet and into an affair that rejuvenates her -- until she figures out that he is also catting about with another, much younger actress. The movie just didn't work for me. Characters said and did things that seemed inexplicable, and by the end I was pretty confused as to who was cheating on whom with whom. The confusion was heightened by the fact that virtually every character's sexuality, except for Bening's and her young lover's, was rather ambiguous. Not a very good movie.