Dazed and Confused - Accurate Portrayal?

The film takes place on May 28, 1976, the last day of school at Lee High School in a small town near Austin, Texas. The seniors are preparing for the annual hazing of incoming freshmen by building paddles and buying cooking supplies; meanwhile, Randall "Pink" Floyd, the school's star football player, is asked to sign a school pledge, promising not to take drugs or do anything else that could "jeopardize the goal of a championship season in '76". When classes end, the freshman boys are hunted down by the senior boys for paddling while the freshman girls are rounded up in a parking lot, covered in condiments, forced to propose to senior boys, and taken through a car wash. During this time, freshman Sabrina strikes a chord with senior Tony.
A major evening plan is ruined when Pickford's parents discover that he is planning to host a keg party that night. Meanwhile, freshman Mitch is violently paddled by the seniors, most of all by O'Bannion, the nastiest and dumbest of the class. Mitch gets a ride home with Pink, who is shown to be sympathetic and offers to take Mitch riding with the others that night. Meanwhile, Tony drives around with his friends Cynthia and Mike, who is uncertain about what to do after high school. Mitch rides with Pink and Wooderson, who graduated years ago but still hangs out with high schoolers.
The three of them stop at the Emporium, a popular pool hall. Mitch is introduced to sophomore Julie, and they seem to be mutually attracted to each other. Mitch goes driving again with some of the seniors. They play mailbox baseball and pretend to steal beer, but an owner of one of the mailboxes catches them and threatens them with a gun before they escape. They return to the Emporium, where Mitch meets up with his freshmen friends. They come up with a plan to get revenge on O'Bannion and dump paint on him in front of everybody else.
A new keg party is planned at one of the Austin Moontowers, which attracts essentially the entire senior class and several of the freshmen. Mike has a confrontation with tough guy Clint while Tony meets up with Sabrina again and Cynthia exchanges phone numbers with Wooderson. Ben confronts Pink about his refusal to sign the pledge but he is still unsure, believing it violates students' privacy and lifestyles. Sabrina stands up to the bossy Darla Marks. Mike picks a fight with Clint but ends up getting beaten-up and humiliated. Mitch runs into Julie and they hit it off again, and are later shown making out. Tony offers Sabrina a ride home, and kisses her when he drops her off at her house.
As night turns to dawn, Pink, Wooderson, Don, Slater, Simone and Shavonne smoke on the school football field, which the police soon notice. The school football coach is called and tells Pink that his friends are part of a bad crowd. Pink throws the pledge at the coach and leaves with his friends to get tickets to an Aerosmith concert. Meanwhile, Mitch arrives home at sunrise but his mother decides to go easy on him. The film ends with Pink and his friends driving on a highway to Houston to buy the concert tickets.