I don't think another version of this story should ever have been made. It's so perfect. The only thing I hear people talk badly about when it comes to this movie is the special effects., but if you think about it, considering the movie was made in 1939, the graphics are pretty amazing. It's a great example of where the movie-making industry was at the time.
Judy Garland blows you away with her stunning portrayal of Dorothy but my favourite performance is definitely that of Margaret Hamilton as the Wicked Witch of the West. She may have scared the life out of me but she really was amazing.