Emma Thompson scores a double bull's-eye with this marvelous adaptation of Jane Austen's novel. Not only does Thompson turn in a strong (and gently humorous) performance as one of the Dashwood sisters--the one with "sense"--she also wrote the witty, wise screenplay. Austen's tale of 19th-century manners and morals provides a large cast with a feast of possibilities, notably Kate Winslet, in her pre-''Titanic'' flowering, as Thompson's deeply romantic sister. Winslet attracts the wooing of shy Alan Rickman (a nice change of pace from his bad-guy roles) and dashing Greg Wise, while Thompson must endure an incredibly roundabout courtship with Hugh Grant, here in fine and funny form. All of this is doled out with the usual eye-filling English countryside and handsome costumes, yet the film always seems to be about the careful interior lives of its characters. The director, an inspired choice, is Taiwan-born Ang Lee, who brings the same exquisite taste and discreet touch he displayed in his previous Asian films (such as ''Eat Drink Man Woman''). Thompson's script won an Oscar, and 1995 was a fine year for Jane Austen all around: ''Persuasion'' was made into an excellent picture, and ''Emma'' became the spritzy high school comedy ''Clueless''. ''--Robert Horton''