NOTE: As of this moment, the Two-Disc Platinum Edition of Peter Pan is in limited distribution (I have seen it) and most of the reviews that appear now refer to an earlier version. The Two-Disc Platinum Edition version can be pre-ordered from Amazon and Borders and offers new special features which include a restored original theatrical soundtrack all-new digital restoration with enhanced picture and sound, "Camp Never Land: Explore Never Land" with all-new multi-level games, deleted songs, a feature during which Walt Disney explains "Why I Made Peter Pan," "The Peter Pan Story: 1952" featurette, a sneak peek of the all-new Tinker Bell movie, another feature "You Can Fly: The Making of Peter Pan," a T-Squad music video: "The Second Star to the Right," a Peter Pan virtual flight, Peter's Playful Prank DVD storybook, and a never-before-seen alternate opening.
Over the years, I have seen various versions of this delightful film and enjoy it at least as much now as I did when it was first released in 1953. On several occasions, I have also visited Disneyland and vividly recall the excitement of the ride when my companions and I departed the children's bedroom and flew above London at night en route to Neverland. The so-called "magic kingdom" is more a state-of-mind than a location because the genius of Walt Disney and his associates is that, in ways and to an extent no one else ever has, they activate and engage imagination. This is especially true of this film that, unlike most of the other animation features, involves a journey by air as well as by land. Literally, one's imagination soars above and beyond human concerns, at least for 77 minutes.
Unlike other Disney villains (e.g. Honest John and Stromboli in Pinocchio, the Queen/Witch in Snow White and the Seven Dwarfs), Captain Hook is at least as amusing as he is threatening. The fate of the Darling children is never really in doubt. We know that eventually, theirs will be a safe return to their home and family. (I had no such confidence - as a child -- when first viewing Dumbo, Pinocchio, and Snow White and the Seven Dwarfs.) Although for most of us, "there is no place like home," we enjoy and appreciate opportunities to travel far and wide - at least in our imagination - and become involve in adventures of various kinds, as the Darling children do.
Those who already have an earlier version of Peter Pan can continue to enjoy it, of course, but at least some of them will welcome this Two-Disc Platinum Edition because of all of its special features, previously unavailable. I only wish other DVDs offered special features of comparable variety, quality, and entertainment value.