Not quite as stinky as I'd heard, but still not any good. Even if you can buy the 50-year old Benigni as an animated boy-puppet, the movie still fails. Note that I have NEVER seen the Disney version and have only a vague knowledge of the canonical story, and I still thought "eeh." Nicely shot with some pretty sets and costumes, but story falls flat in many places:
The Cricket conscience has maybe 5 minutes total screen time and isn't terribly persuasive for a conscience, the Blue Fairy appears as a character willing to help Pinocchio without any prior relationship to him and with no apparent reason for being interested in his welfare; Pinocchio never mentions wanting to be a "real boy", yet suddenly in the 3rd act it's a big issue and treated like it's been a driving force in the first 2 acts. The nose-growing thing only happens twice (maybe three times at most). The film is a bit too sinister for kids, yet too simplistic for most adults. And Benigni REALLY hams it up and overacts, which, if you've seen many of his films, you'll realize is quite an accomplishment, though not a good one.
If you've guessed from my recent posts, I am now a