Why Buffy Kicked Ass... by Virginia Postrel in Reason Magazine.
Among other good parts:
The mere existence of Buffy proves the declinists wrong about one thing: Hollywood commercialism can produce great art. Complex and evolving characters. Playful language. Joy and sorrow, pathos and elation. Episodes that dare to be different -- to tell stories in silence or in song. Big themes and terrible choices. In the show’s most wrenching moment, Buffy kisses her one true love and saves the world by sending him to hell.
FYI (taken directly from their site): Reason is the monthly print magazine of “free minds and free markets.” It covers politics, culture, and ideas through a provocative mix of news, analysis, commentary, and reviews. Reason provides a refreshing alternative to right-wing and left-wing opinion magazines by making a principled case for liberty and individual choice in all areas of human activity.