I have both the '82 and '99 version of this movie, i bought the '99 version for my daughter because it is a little more child friendly and I knew she would love all the singing and dancing, I bought the '82 version for myself, because there's nothing quite like the original, my daughter it turns out prefers the original too. It's funnier, slightly more sinister, the acting is better and the songs are more involved.
Over all Annie is a good entertaining family movie, it just depends whether you want cake with candles or cake with sparkles....