By Mandi Bierly
Updated May 04, 2007 04:00 AM

THE SETUP A newly single mom (Bonnie Franklin) raises two well-adjusted daughters (Valerie Bertinelli, Mackenzie Phillips).

BELIEVE IT… Single mothers said the series accurately depicted their lives. Bertinelli and Phillips each became one.

…OR NOT In a 2005 reunion, Phillips says she understands why smarmy super Schneider (Pat Harrington, above) was a sex symbol. She now looks at clips and thinks, ”What a hottie.” A-