The original had no gags....think about it
The only thing the original had was Peter Sellers acting silly. And that whole Hollywood chase scene at the end was awful and never ending. And you should also keep in mind that it was intended as a series of films featuring David Niven as The Phantom. The re-make was better written and had some VERY funny gags. Hail Steve Martin.
There is no "off" position on the genius switch.