Tyrone Power once called the 1947 film Nightmare Alley his favorite role. It stands out in his filmography; not only is it his best performance, but it’s a marked departure from his other parts. Power’s character, Stan Carlisle, is an ambitious, dark man who contrasts with his previous swashbuckling romantic heroes.
To put it simply, Stan Carlisle is an asshole, and Tyrone Power was good at playing assholes.
Carlisle is a born and bred carny, working an act with Zeena (Joan Blondell), Pete (Ian Keith) and Molly (Coleen Gray). Zeena pretends to read minds, with Stan and Pete working as her assistants. Zeena and Pete were a top-billed vaudeville act before Pete’s alcoholism brought them low. Stan brings them even lower. He’s an ambitious man in a distinctly unambitious world, and that world will tear him down.
Power is surrounded by performers that match him pound for pound. Blondell, Keith and May all give stellar performances, as does Helen Walker as Lilith Ritter, a psychologist who proves Carlisle’s equal in almost every respect. Each character fulfills a specific archetype, which some may consider unoriginal; however, these characters are among the best examples of their archetypes.
Nightmare Alley also stands out by itself. It’s a noir with top-notch production design and cinematography, even for the time. The makeup and hairstyling are especially striking; they're vital to why the film works so well. Carlisle looks the part of a social climber, with damn near impeccable makeup even as the carnival workers around him look worn and beaten by the years of toil. These characters look charming, persuasive and cunning.
It’s easy to see why a director like Guillermo del Toro would be interested in this movie. It’s a dark, seedy look at just how high people can fly and just how far they can sink.