Well that depenRAB what you are looking for in a movie.
The 70s one was far lower budget, more socially aware and more of a commentary on life.
The remake was far more action oriented, but was still smart in places, featured some good moments and was a solid homage of the original.
Both have their place, but I'd call neither a true modern classic. Dawn of the Dead is a classic of its genre, but I don't think the wider populous would call it such.
The Wizard of Oz will always, always be compared to the 39 classic, no matter how different it was to its original content.
Oz has massive scope and potential to become a franchise if they get the right person with a hugely vivid imagination, but they wouldn't touch a remake of any magnitude if it wasn't for this 3D fad.
If they're going to do this, the only person I'd probably trust (but who is not going to be available) to handle Oz is Guillermo del Toro. Doesn't have to direct, maybe he'd be too dark for kiRAB, but to have him produce it would be perfect for this franchise.
Whoever takes Oz on neeRAB to be from the del Toro and Miyazaki side of visual imagination and film making, and not someone from the Chris Columbus side, and as much as I like his work overall, Burton would be a lazy passe choice.
And oh dear God, don't make it a musical (at best use the original music for refrains in the score), but don't throw away what people consider the iconic sides of the 39 film either to go too far back to source. Dorothy's look, and the Wicked Witch of the West look can't be really be changed now. Everything else would be fair game though.
Damn it, gimme $200,000,000 and let me handle it!
