The movie, follows Valerio, an Italian student who turns up at Oxford but doesn't fit in with Oxford's rigid codes of behavior (i.e. he doesn't seem to like drinking himself into a stupor).
He starts off rowing for Rufus college but is soon invited to join OUBC (as their three man has a touch of appendicitis) but he is dropped from the crew after he starts messing around with Flora, the girlfriend of one of the other rowers (and daughter of their rather plummy coach).
Roderick, the irate boyfriend challenges him to sconce (drink a large amount of beer in one go) but he pours it on the floor instead, then is kicked off the crew because the others don't respect him anymore.
Valerio decides to hang around one last night for the annual "May Morning" celebration. Which shows the hip young things of the early 1970s, getting on down at a may ball, with much consumption of alcohol and pot, activities the universtity seems to condone.
Most of the film takes place on the day and evening before May Morning. It is during these festivities that Valerio takes his revenge against the university and his coach/ tutor, Professor Finlake by copping off with his wife - well he'd already had a roll with his daughter...
This is one that's definitely worth watching if you've ever been to Oxford, just to see the streets of the city lacking in no parking / one way signs, though the clothes that the male students wear are also a good lesson in why one really shouldn't go back to the fashions of the early 70's.