How old and when did you first see this?
Me, I saw it when I was about 10-11, back in the mid 80's. We lived overseas at the time and couldn't get TV stations (save for taped shows sent over by family), so Wizards was one of a few movies I'd rewatch a gazillion times.
I almost wonder if many kids who've grown up on things like Dragonball Z (ugh) think that Wizards is a screwy flick. I still love the trippy effects, weird rotoscoping- and Mike Ploog's and Ian Miller's art still stands today!