Rocky Balboa was a fighter, but he never made the big leagues, but he now has the chance to get his name known. The world champion, Apollo Creed, decides to fight a nobody to give people a show as real fighters keep pulling out of the fight. Rocky trains like crazy, but he knows he is not good enough to win, he does, however, wish to go the distance. The two fight through all of the 15 rounds, in the end Creed wins, but Rocky didn't lose as far as he is concerned.
Watch it? Yes, I recommend it. It still holds up as a good movie after all these years and there are little gems in it. Sure, you can critique Rocky's fighting style in the end, I know I did, and there a few WTFs here and there (like why was that dude watching TV in the office with his shirt open when people around him where working?), but overall I think it's an innocent movie with a great morale.
Until the next item on my list!