A criminally underrated film if you ask me. Yes it's all a bit silly when you know how the Titanic sank, but remember that it was released five years before the discovery of the Titanic wreck which proved that the ship broke in two as it sank (something that the White Star Line always vehemently denied, claiming that it sank more or less intact, despite numerous eyewitness accounts (all of which were ridiculed and covered up) of the ship breaking apart)
It's a fascinating and great looking film though, with some intriguing concepts and the scenes of the ship bursting through the surface are spectacular even today, and were all done with practical effects - no cgi here, and the whole thing looks far more realistic than the mostly-cgi ship in James Cameron's 1997 blockbuster (OMG was that really over a quarter of a century ago that "Titanic" was released?
"Raise The Titanic" is based on the book by the same name written by Clive Cussler back in 1976 and although panned by the critics (which is usually a sign that a film is going to be really good), went on to find its audience on home video and dvd, becoming something of a hidden gem and a cult classic that's well worth picking up on dvd or bluray if you can find it.
And of course the wonderful, soul-stirring score by John Barry is nothing short of amazing and elevates the film even further. Don't listen to the haters - this is a great film that I've lost count of the number of times I've watched over the years