I watched this Walt Disney film again last night for the first time in many years, and while the CGI holds up, and Ralph Richardson's wizard is original and has depth, what really struck me was the cleverness of the film's plot.
For straight S&S fantasy I think it is a great example of how you can use all the tropes of a genre, and then subvert them to keep your story original and surprising. Dragon, wizard, apprentice, king, princess, blacksmith, evil swordsman and comedy old bloke are all there but they never do what you expect and there are some quite pointed jabs at authority and religion on the way, and some very bleak moments.
An interesting film, a little lacking in tension, and with one absolutely excruciating 'love scene', overall it is still very watchable. One of Disney's more unusual films.
And for my money it still has -the- best dragon of any film.