I remeber being six years old and watching this the first time it came on TV. I was so excited because I got to stay up past my bed time to watch the whole thing.
I was also suprised to hear the high-school kids on the bus the next morning quoting lines from the movie and laughing hysterically. Didn't they know Pee-Wee Herman was for kids, not them.
Showed it to my nephews a couple of years ago, and they loved it.