Charming to this day.
This was pretty much the film that unravelled Santa for me. I already sort of knew he wasn't real but being 7 at the time I still had that childlike optimism and this was great to see Santa's "Origin story" as it was.
I'm pretty much a film buff now and this film has plenty of flaws. Plenty!
What it also has is charm by the bucketloads. It was never meant to win Oscars or turn in layered and complex performances, it was just meant to entertain children and it does that magnificently with a good dose of 80s sheen.
Don't be a film snob, enjoy some magic with your kids!