When I was growing up, I watched a lot of movies that, especially looking back now, I would deem inappropriate for my age. And yet I watched them a lot. This was one such movie. My mom and I wore the VHS we had of this movie out when I was little, watching it over and over and over to the point that I had it mostly memorized by the time I was seven. There were parts we endlessly quoted at each other.
One time I even got an impression perfect. The little nasally-voiced kid that goes "mister kimball mister kimball *snort* are you all right?" as he's being wheeled out of the school on the stretcher toward the end. Got that perfect as my mom was pulling the car through a drive through and we had to park and laugh about it for a solid few minutes.
I was so intensely excited when I found a copy of this on DVD when I was down in the Twin Cities recently that I had to snap it up regardless of price. Thankfully, it was like $6. I've watched it twice since finding it again and I can definitely say it holds up to my memory of it. Even if I don't think any part of the beginning half of that movie is even remotely appropriate for a small child to be watching.
Easily still one of my top ten favorite movies. One day I'll put out a list that actually quantifies my top ten favorite movies. I'd say this is probably number two. Five stars, fully recommend.