Philharmagic is by far Disney's most entertaining 3-D show. Some people may say, "oh, the effects are old, and they use old Disney movies, blah blah blah." But what they don't realize is that Philharmagic was made FOR THE WHOLE FAMILY. They're not going to subject you to bee stings and any other "technological wonders" in a Fantayland show. It is just perfect for the audience that Walt always targeted, and it shows in the happy faces of guests of every age at the exit of the show. The effects are great but not overpowering, the movie has action without being obscure. I think the constantly sold out theater speaks for itself.
I can say that Philharmagic, though not my favorite attraction, is one of the only attractions anywhere that you REALLY want to visit. Every time I have free time at MK, I ALWAYS say, Philharmagic! I gotta go back!
Of course, it almost was my favorite attraction at MK. If only the budget was a LITTLE bit higher, Disney could have given the show what it truly deserved: a redesigned theater from the old. They could have had more seats, more unique effects, more room in the "preshow area," (it's always so cramp!) and an actual preshow! That could have been a lot easier to deal with, and the show would have been better for it.
P.S. My favorite scene is the Aladdin scene. The freedom you feel from flying through Agrabah is just perfect. And the most well-animated character is Lumiere! He's almost flawless!