This movie was a favorite of mine during my childhood and even after watching it for the first time in ten years, it's just as great as I remembered it to be. One of the best family films of the 80's and one of the landmark films of American cinema, E.T. combined strong special effects with a brilliant soundtrack and believable characters. Like any good movie, it does a good job at changing tones, as there's scenes that made me laugh my ass off (like E.T. getting drunk) and others that moved me (the end of the movie).
On to the 2002 re-release, I thought it was a joke. The extra scenes didn't develop any scenes or characters any better, the CGI renditions of E.T. looked out-of-place, and the replacement of certain bits of dialogue and especially the shotguns with walkie-talkies butchered the movie.
I'm glad that Steven Spielberg saw the light recently and for the blu-ray release of the movie, released only the original version from 1982 with only a few enhancements in the background sound to bolster atmosphere.
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