Adaptation Displacement: This most likely to be what people think of when you talk about "The Last of the Mohicans" instead of the book or the more faithful mini-series adaptation from BBC that was released in 1971.
Alternate Character Interpretation: Magua's gesture towards Alice just before her suicide. Is he just trying to look like he tried to stop her so nobody will doubt that he followed Sachem's decree? Is he just pragmatically trying to save her so he can take her back to be his wife? Did he actually for a brief moment have genuine compassion for her? If the latter, it makes you wonder what he would have been like if not for the tragedies he suffered earlier in his life that left him with little feeling outside of a thirst for vengeance.
Anti-Climax Boss: Magua gets a whole lot of build-up in terms of his fighting ability. In the final battle, the part he spends actually fighting lasts about ten seconds. However, this has more to do with just how badass Chingachgook is as opposed to Magua being weak, as Magua had previously curb-stompedUncas. In the 1936 film, Chingachgook and Magua were more or less equals as warriors while here Chingachgook is more skilled.
Anvilicious: Americans and Brits don't get along. Mmm, kay?
Award Snub: The film only received one Oscar nomination for Best Sound, which it won. It didn't even receive a nomination for its famous film score.
The score probably wasn't nominated because the famous climax music was based on a pre-existing work ("The Gael" by Dougie MacLean).
There are plenty of people who think Wes Studi should have been nominated for Best Supporting Actor.
"Massacre/Canoes", that plays during the Huron ambush on the British evacuation of the fort, and the survivors' escape via canoes.
"Promontory", the repetitive fiddle movement that plays for a good seven minutes during the climactic scene of the film.
CharacterExaggeration: Magua. He is actually a much more complex - and conflicted - character in the novel. Yes, he wants revenge on Colonel Munro for humiliating him. But his idea of "revenge" is to take Cora (the not-completely-white sister) as his mate and treat her as a slave.
Covered Up: "Promontory" is derived from a piece called "The Gael" by Scottish musician Dougie MacLean (which was composed for a museum about the Loch Ness Monster, of all things).
Ensemble Dark Horse: Uncas, despite having almost no lines (and being the title character of the book, so this comes full circle).
Fan-Preferred Couple: In the years since the movie was released, many viewers have come to prefer the subtle, wordless love story between Uncas and Alice compared to the dramatic main romance between Hawkeye and Cora.
Genius Bonus: Numerous small historical asides that go over the heads of most readers (and viewers).
Those who grew up studying Canadian history will likely recognize Montcalm as the French commander who lost Quebec to the British at the Plains of Abraham and died in the process.
Duncan is the foil and occasional designated villain. However he has no qualms about speaking freely to his superiors, fights admirably at every instance, handles his rejection from Cora with dignity (for the most part) and ultimately sacrifices himself (in a horrible manner) for the the woman who rejected him and the man she chose.
The marvelously stuffy phrase "Without so much as a 'by your leave.'"
"When the Grey Hair is dead, Magua will eat his heart. Before he dies, Magua will put his children under the knife, so the Grey Hair will know his seed is wiped out forever."
Misaimed Fandom: Possibly, Nathaniel/Hawkeye. Book-Hawkeye is not especially heroic: he more closely resembles a Sidekick, as he is middle-aged, has a high regard for his skin, and is not interested in either of the Munro sisters. Indeed, he has to be publicly shamed into repeatedly upping his offer for Cora's freedom - at first, he recoils at the idea of offering his life and just says he will go into winter quarters early; when this meets with scornful rejection, he offers to trade his rifle "Killdeer" for her; and only when that also fails does he agree to a full person-for-person exchange. But even this belated and reluctant offer is rejected, both by Magua and by Cora, who decides that she will not allow it.
Narm: "You call yourself a patriot? A LLLLOYAL subject of the crown?"
Newer Than They Think: As stated above, part of the score is derived from Dougie MacLean's "The Gael" which was released in 1990, only two years before the film. But it's often mistaken for traditional English, Celtic or even Native American music.