Okay.
For everyone that complains that this isn't actually scary - please remember that it *IS* a kid's movie. It was made by Disney and rated PG. I can't imagine that their intent was to terrify adults. So while the twist may be a bit lame and the effects a little dated, it still works as a FAMILY movie that can be enjoyed by people of various ages.
I don't know if it's the nostalgia talking or what, but I felt a serious need to defend this, since it is one of the few movies (along with Goonies and Monster Squad) that has continued to be amongst my favorite movies since childhood. If you are over the age of 12 and want to be scared, watch The Shining or something!!