Animated fantasy that is hard to forget due to it's rich world (created by J.M. Barrie) and it's colorful villain, Hook. Tinker Bell who became more popular than the leading character in her Disney appearance is also memorable. The song-numbers are among my least favorite in Disney though with the exception of "You can fly" at the beginning.
Disney certainly had their eye on Looney Tunes while making this movie. A great escapist fantasy with fantastic characters. While it's a poor man's Alice in Wonderland (1951), and romanticizes the original book/plays message and story, it's a classic nonetheless.
I guess I liked it okay when I was younger, but having seen it again recently...yes, it's well-animated, and the plotting isn't bad, but aside from Wendy, John, and Michael, our protagonists are thoroughly unlikable. Especially Tinker Bell. While it's not really bad, it's not really good either.