The following year, Waterston acted in the neo-Western comedy film Rancho Deluxe (1975) starring Jeff Bridges, Elizabeth Ashley, and Harry Dean Stanton. That same year, he acted in the Canadian thriller Journey into Fear with Zero Mostel, Vincent Price and Shelley Winters. In 1976, he acted in the thriller Sweet Revenge opposite Stockard Channing. The following year, he acted in the British-American thriller Capricorn One playing Lieutenant Colonel Peter Willis. The film had an ensemble cast which included Elliott Gould, James Brolin, O. J. Simpson, and Hal Holbrook. Also in 1977, he starred in an Off-Broadway production of William Shakespeare's Measure for Measure as Duke Vincentio alongside Meryl Streep and John Cazale at the Delacorte Theatre.
The following year, Waterston acted in the neo-Western comedy film Rancho Deluxe (1975) starring Jeff Bridges, Elizabeth Ashley, and Harry Dean Stanton. That same year, he acted in the Canadian thriller Journey into Fear with Zero Mostel, Vincent Price and Shelley Winters. In 1976, he acted in the thriller Sweet Revenge opposite Stockard Channing. The following year, he acted in the British-American thriller Capricorn One playing Lieutenant Colonel Peter Willis. The film had an ensemble cast which included Elliott Gould, James Brolin, O. J. Simpson, and Hal Holbrook. Also in 1977, he starred in an Off-Broadway production of William Shakespeare's Measure for Measure as Duke Vincentio alongside Meryl Streep and John Cazale at the Delacorte Theatre.