PETER PAN, as generations of entranced children have learned, has issues with growing up. Since the 1953 Disney animated hit and the fondly recalled made-for-TV version that showed periodically between 1955 and 1973, subsequent film adaptations of the beloved J.M. Barrie story have struggled with tones that they hope fit modern audiences without losing the  timelessness of the tale’s dreamy ‘make-believe’. The great-looking 2003 version has a lot going for it but still trips up—it’s certainly better than 1991’s Hook, a ten-ton commercial against cheer—and it didn’t capture crowds to match its costs. With this version, tone was partially to blame, along with having to contest in the funstakes with the first of the Pirates of the Caribbean epics and a fleet of fantasy flicks. *

No need for synopsis (you don’t know Peter Pan?), so what’s inspired and which is iffy? Directed by P.J. Hogan (Muriel’s Wedding), who co-wrote the script with Michael Goldenberg (Contact, Harry Potter And The Order Of The Phoenix), the plusses do outweigh debits. The casting is a boon, especially the crucial leads. Beaming and likable, Jeremy Sumpter, 13, does well with the exuberant, ever-boyish hero. Jason Isaacs is fittingly wicked as ‘Captain Hook’; he also plays the fussbudget ‘Mr. Darling’.  Ludivine Sagnier, 22, is gamine and wildly expressive as ‘Tinker Bell’. Best of all, 12-year-old Rachel Hurd-Wood makes a nigh-on perfect ‘Wendy’. The visuals are darn near psychedelic (someone had been in the curious jar), the mix of practical and digital effects on the money and the art direction a treat. The mermaids are cool creepy. James Newton Howard’s score nicely augments the wistfulness and action without overly indulging in syrup or bombast.

On the downside, like most modern reboots of cherished kiddie favorites it pushes noise (too much yelling—though not as awful as the ear-hell of Hook) and ‘rollercoaster style’ movements designed for audiences whose attention spans have been whittled down to byte-size. And some of the threaten-the-kids stuff and a few instances of violence are a tad too jarring; it’s geared for teenagers (or mushroomed adults) more than little ones (unless you let your five-year-olds watch what you do). And at 113 minutes, while still 31 shy of Hook heft, it’s padded: Walt’s ’53 classic ran just 77, Mary Martin’s small-screen treasure did it in 100.

The production cost ran to $130,000,000. Grosses only came to $121,975,000 worldwide. Factoring in prints & advertising that amounted to a loss of between $70-95,000,000.

With Lynn Redgrave, Richard Briers (‘Smies’), Harry Newell (‘John Darling’), Freddie Popplewell (‘Michael Darling’), Olivia Williams (‘Mrs. Darling’, almost an afterthought this time out), Carsen Gray (‘Tiger Lily’), Bruce Spence. Narrated by Saffron Burrows.

* 2003 was a heckuva year for making believe. In box office tally order—Finding Nemo, The Lord Of The Rings: Return Of The King, the ‘Pirates‘ opener, The Matrix ReLoaded, Bruce Almighty, X-Men 2, Elf, Terminator 3, Matrix Revolutions, Hulk, Daredevil, Big Fish, Lara Croft Tomb Raider, Underworld, our pal ‘Pan‘, The Core and The Triplets of Belleville.

Peter Pan may not get older, but the young folk who put in hard work making this movie marched with time. Sumpter, Hurd-Wood and Sagnier went on to grown-up success as actors. Carsen Gray, the eight-year-old Haida girl from British Columbia who played Tiger Lily, grew up into an award-winning singer.