Depicts the Band's last performance together at the site of their first gig; interspersed with interview footage.

Thanksgiving, 1976, San Francisco's Winterland: the Band performs its last concert after 16 years on the road. Some numbers they do alone, some songs include guest artists from Ronnie Hawkins (their first boss, when they were the Hawks) to Bob Dylan (their last, when as his backup and as a solo group, they came into their own). Scorsese's camera explores the interactions onstage in the making of music. Offstage, he interviews the Band's five members, focusing on the nature of life on the road. The friendships, the harmonies, the hijinks, and the wear and tear add up to a last waltz.