Yes. I remember seeing this movie with my best friends when I was a teenager in the late 90's. I had never laughed so hard while seeing a movie. My chest hurt for the next few days. Truly a classic and deserves to be recognized as such.
God, no, I'm just trying to watch it again and cringing throughout. I guess I've seen too many stupid people doing stupid things and screaming cluelessly at each other to find it funny. I really like Jim Carrey and Jeff Daniels, and there are a few funny moments for me, but the overall concept and exaggeration are not doing anything for me.
Funnier movies for me were:
Monty Python and the Holy Grail
Idiocracy
Life of Brian
40 year old virgin
Coneheads
Dirty rotten scoundrels
Dogma
She-devil
War of the Roses
Radio Days
The Mask
Liar, Liar
Watched all of those more than once, and would watch them all again.
But humour is a personal thing, so I'm not claiming anything is better than anything.