Best Known for the Fanservice: Quick, what's the first thing you remember from this movie? Judge Reinhold getting fired from his job? The gas station robbery scene? Bullshit. You remember Phoebe Cates removing her top. Don't even try to deny it.
The story goes that video stores' copies of the VHS tape broke from having that scene re-wound and played over and over and over again.
Thanks to this film, there is an entire generation of men who can't hear "Moving in Stereo" by The Cars without thinking of Phoebe Cates' boobs.
Linda is obsessed with older men. In real life, Phoebe Cates is married to the much older Kevin Kline.
Noting Spicoli's dream where he says a homophobic slur, could be this since his actor Sean Penn portrayed the openly gay Harvey Milk.
Just Here for Godzilla: The Phoebe Cates topless scene is so famous that some people have admitted to renting, buying, or illegally downloading the movie just so they could see it.
Memetic Mutation: The scene where Phoebe Cates climbs out of the pool and removes her top has been parodied countless times over the decades, with spoofs of the scene appearing in The Man Show, Family Guy, and even the video for "Stacy's Mom" by Fountains of Wayne.
Values Dissonance: Early in the film, one student tapes a note saying "I'm a homo" to another student's back. Such an act would be a lot less acceptable nowadays.
Not to mention Spicoli's dream: "Those guys are f*gs!" (Presumably in the setting of a live TV interview, no less!)
Vindicated by History: Upon release, the movie was largely panned by critics (no doubt due to the already-existing glut of high-school/college sex comedies during that era). Today, it's considered by many to be among the best high school movies ever made.
Made double by the fact that many of the film's vindicators are critics who had actually formerly bashed the film when it was released, admitting that they let their emotions cloud their judgments.