My most vivid memory of E.T. was watching it at my grandma's house and getting scared at certain parts, particularly when E.T. was inside the bubble environment. We watched it the other day, and boy did I not remember a lot of it. It's such a classic and I only remembered about 30% of the film.
Who wouldn't love a film about a friendly alien, who hangs out with a bunch of kids, creates satellites out of toys and random electronic parts and gets drunk after finding beer in the fridge? It's also kind of crazy to see Drew Barrymore as a small child.
When we watched it, there were two people with us that had never seen it. I know I haven't seen every classic film, but to not have seen E.T., now that's a tragedy.