This is the canon ship. It is also known as Buck and Thorn (a play on Jame's animagus form, and Lily's name, although Lilies don't have thorns) It is one of the most beautiful relationships we see in HP. They died while young, so their relationship hadn't had a chance to encompass any of the weariness we sometimes see in Arthur and Molly's. They were very much in love, and from what we can see found hope in and for each other. It is what many term as "true love."
OotP gave us an interesting twist to their relationship, as not many had previously theorized that they didn't get along. However, it gives it some depth of reality and a lasting commitment that it lacked before. I don't subscribe to the love/hate realtionship with these two. They had a mutual respect for each other, and a friendship to build on. Neither would bait the other just to ridicule or humiliate the other. James seemed to adore and worship Lily and her opinions, and Lily seemed to somewhat admire him, but correctly criticized his misbehavior towards Snape.
In all the photographs, and the stories people relate to Harry, they are smiling, happy, brave, and kind people with a strong integrity and will to do good. Once they had both grown and matured, they must have found that true love that everyone saw them in before.
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