As per wikipedia: "Doomed Megalopolis is a supernatural/dark fantasy anime. It is an adaptation of the historical fantasy novel Teito Monogatari by Hiroshi Aramata"
This anime was released initially in 1991 when I was in the 8th grade. I found out about this 4-part mini series from a schoolmate who was all sorts of into anime; he's the person who got me into the genre, and I haven't looked back since. If you're reading this Jorge, thanks. You've made my life so much more fulfilling..
As for the actual show, it's heavily steeped in Japanese mysticism and the animation, although old school, is disturbingly satisfying. The anime adaptation is more violent and sexualized than the novels, and while there's nothing gratuitous, per se, I probably wouldn't let any kids not in high school watch these films.
Lastly, you may want to Google Japanese divination, onmyoji, and Masakado Taira (a real man from the Heido era), or else you're not gonna have a clue as to what's going on...
...or just watch it for fun. Who am I to dictate your motivations?
Pros: Cool, retro-style animation with some disturbing scenes. The worm scene from episode 3 had my eyes the size of dinner plates.
Cons: Story is difficult to follow/decipher is you're unfamiliar with Japanese mysticism. Not for kids.