Me and my girlfriend watched The Karate Kid today. We watched the original version. There's no way the new one is ever going to be better than this. It's an awesome 80's classic. It even has the line "hey it's the 80's" in it.
I remember the first time I watched it was at my parent's house for my birthday. I must have been about 11 or 12 because we had it on video from the rental shop and it was released around 1984. As I remember it was my birthday party or something and we were transfixed. The video got watched and re-watched into the night. Awesome!
1984 was an unusually great year for films. The list of genius put out on celluloid that year is almost never ending ... Beverly Hills Cop, Ghostbusters, Indiana Jones and The Temple Of Doom (not quite as good as the first one but still a great film), Gremlins, Police Academy, Splash, Nightmare on Elm St, Terminator and Spinal Tap.
There's an excellent article on this topic here: Was 1984 the greatest year in movies ever?
Imagine the above list was all you had on your DVD collection. You'd never be short of classics if someone popped round wanted a night in front of the telly.