I swear to goodness, if you're a weirdazoid like me whom also hasn't see "The NeverEnding Story" (or any of the other "classics" for that matter) - do yourself a favour and find a copy. Don't bother reading the reviews (I'm not going to say much about it) and don't bother swatting up on the storyline - you don't want to go spoiling the pleasure! So go on and treat yourself with a fresh and open mind for a change, even if it it just this time.
"The NeverEnding Story" was cheesy, the animatronics dated and clunky by today's standards and no CGI whatsoever - but that's all part of the wonderfully quirky charm. The mere fact that there's no computer imagery at all makes is astonishing - the detail and the sheer work put into the puppets and scenery is truly beautiful and timeless. I particularly liked the walls in the ivory tower - I can only imagine how long it took to shape and laquer them into their pristine, curlicued glory!
A thought on Labyrinth: I was thinking earlier to myself: how DO you judge your own self worth? I worked out that you're worth more than they pay you, but not as much as your mother thinks you should be paid. Anyhow, I carefully browsed for feedback on the sequels, and was glad I trusted my instinct - apparently they ruin the originals for you for life. So yes - avoid the sequels, but please, watch the originals - and enjoy.
"Falkor - it's Woooooonderful!"