GOOD MORNING: Edward James Olmos, fresh from 10 days of working to help restore love and order in riot-torn L.A., is in Cannes today with–”American Me.” As you know, the Universal movie is his directorial debut and set in race-riot-ravaged L.A. The international press at Cannes will, no doubt, split their queries to Olmos between the reel and real Los Angeles. Last Friday, Olmos made his fourth stand on “The Arsenio Hall Show” to plead for a peaceful future. Earlier that day, Olmos told me he met with Mayor Bradley to talk Latino-Korean relationships and also talked with Peter Ueberroth. Saturday, Olmos was part of the Hollywood Policy Center-organized Town Hall meeting in the Cary Grant Theater at Sony Studios, where Marge Tabankin, HPC pres. and exec director of the Hollywood Women’s Political Committee, intro’d host Mike Farrell to an audience including Jimmy Smits, Sean Penn, Dana Delany, Christine Bateman, Mark Canton, Dawn Steel, Bob Ezrin, Gary David Goldberg, Matt Groening, Anjelica Huston, Wolfgang Puck. Our proposed H.O.P.E. (Hollywood’s Opportunities for Productivity through Education) is receiving enthusiastic reaction from all quarters–from studio executives, stars, studio workers And the AMPTF holds a round-table talk on all industry plans, Wednesday (13) ayem. … Farrell flew in for Sat.’s confab from SanFran where he met with Gorbachev. And today, Farrell leaves for the Mideast on Christian Children’s Fund work! Gerald McRaney, who had been with President George Bush at the Challengers’ Boys and Girls Club Friday morning, had been invited by Bush because of their first meeting post-McRaney-Delta Burke’s trek to entertain the Desert Storm troops. The McRaneys are now invited to the White House June 16 state dinner for Boris Yeltsin. McRaney told us, “I had been reluctant to be involved in partisan politics until now. We (actors) have an unfair advantage.” However, he now says he’s changed his mind and will “be on the side of the president.” Meanwhile, he and Delta are busy prepping their respective series at Universal. He’s on stage 41, she’s on 44. Yes, they can drive to work at the same time. “That’s because she’s producing her show, I’m producing mine.” … Saturday’s (16) UCLA-Mexican Arts “Sounds of Mariachi” tribute to Ricardo Montalban is now a fund-raiser to help rebuild L.A., as well as a benefit for programs of the Bruins’ Mexican Arts series. … Talking White House feeds earlier, Wednesday (13), when the president of Chile is feted in D.C., George Bush will also happy-birthday A.C. Lyles, who’ll be there with wife Martha. Lyles is the president’s Hollywood celeb coordinator. … Ronald Reagan is back at the ranch, having delivered the commencement address at his alma mater, Eureka College, later visiting his hometown, Tampico, Ill.MENAHEM GOLAN, back to wheeling-dealing in Cannes, has set Steve Guttenberg to star in “What Do Women Want?,” with Robby Fox directing his screenplay. Guttenberg’s en route to make the announcement Wednesday (13) following the 21st Century Film feed at the Carlton tomorrow night. … Aidan Quinn (“The Playboys”) joins Mary Stuart Masterson and Johnny Depp in MGM’s “Benny and Joon” (to be retitled), directed by Jeremiah Chechik. … Sadie Frost, fresh from “Dracula” (as Lucy), joins Barbara Hershey, Eric Idle, John Cleese and Rick Moranis in “Heirs and Graces” for the same group that brought us “A Fish Called Wanda.” … Fred Williamson stars and directs Greenwich Films’ “The Night Caller” for exec producers David Chackle and Steve Adelstein. Peter Fonda, Vanity and Gary Busey also toiling in Miami. … Victoria Rowell, Drucilla Barber on “The Young and the Restless,” stars opposite Eddie Murphy in Hollywood Pictures’ “The Distinguished Gentleman,” filming in D.C. … George Schlatter got a pickup from ABC for a seventh “American Comedy Awards.” The sixth airs May 20. And award-winners Lily Tomlin and Tracey Ullman are talking a sitcom teaming with Schlatter. “IT HAS ALWAYS BEEN MY DREAM PROJECT,” Ron Howard said yesterday after results were tabulated from the “Far and Away” previews in 71 U.S. and Canadian screens. “It has been a crowd-pleaser from the beginning,” said Howard, who directed and produced with Brian Grazer, “but with the 70mm and the John Williams score, it is really a movie movie.” The picture got 86% excellent and 14% good reaction at the Bruin site. Grazer and Howard were joined by co-stars Tom Cruise and Nicole Kidman plus Thomas Gibson. Howard admitted the picture had been greenlighted by Universal’s Tom Pollock even before Cruise and Kidman were set in the movie, which has been nine years in the works. When asked whether reaction to the film would change his and Grazer’s plans to depart management of Imagine Films, he said, “No. Our contracts expire at the end of November,” and they are still working on the idea of buying the public shares at $ 9 apiece. By the way, the screenings were all SRO, having been sold out since 9 a.m. Saturday morning, and there was no signs of any kind of violence in the neighborhoods, but Howard remarked there “definitely was a police presence around.” Next weekend they plan to sneak it on 600 more screens “The Will Rogers Follies” plays the Pantages July 13-Sept. 26, ’93. SanFran’s set for Aug. 25-Oct. 33 ’92 at the Golden Gate.