"The True Story of Eskimo Nell" is a lame attempt at a buddy sex comedy in which you don't believe, or care, about the buddies, there is barely any sex (the 18+ rating is ridiculous), and you'll struggle to remember even one joke.
Worse, it is an attempt at a riff on "Midnight Cowboy", and in its most superficial and barely noticeable resemblance to that movie, is nevertheless an insult to it. Whereas "Cowboy" showed a believable male friendship that developed in a way that made it touching and real, "Eskimo Nell"'s attempt at shoehorning a Schlesinger-style ending to the picture is nothing but an insult. There is no development of the "friendship", the characters do nothing interesting, and you don't even believe the faux-touching moment at the end could happen in any reality. You sit there, thinking the movie couldn't get any worse, and then... wait a minute, is this dreck really trying to ape THAT film? It is so tacked on, you wonder why they even bothered.
The only nudity is flashes at the beginning and end of what feels like a long picture. There is, of course, no eroticism.