This one is such a classic. Typically it's seen as the official adaptation, but for a long time, I didn't see why.
I first saw it when I was a lot younger and I had already seen the Masterpiece adaptation. Because it wasn't the first adaptation I had seen, I judged it unfairly against the Masterpiece edition. Because it was a film and not a series, it didn't have the time to follow the events as closely as the Masterpiece version had, and so I deemed it unaccurate. I didn't like the casting as much, and it just didn't click with me. However, I watch it again earlier this year, and I absolutely loved it!
It's such a cozy movie and it really captures what makes the book so effective and impactful as a story. I realized on rewatch that the casting is perfect. My big complaint when I was little was that Professor Bhaer didn't look like he did in the Masterpiece version, which was a perfect portrayal in my eyes. I take it back now, though. The development of Jo and Professor Bhaer's arc is so lovely in this version. I love when they talk about Transcendentalism not only because Louisa May Alcott was herself a Transcendentalist, but because it shows how well matched they are on an intellectual, emotional, and moral level. Some other versions *ahem, 2019* completely lose this, and then it makes no sense why they get married. Winona Ryder, as everyone knows, is a perfect Jo. Beth's scene is beautiful and tragic and done so incredibly well. Another thing that I really appreciate about this version is that Amy is played by two different actresses for the two parts. This really helps build the understanding that she's changed from the little girl who burned Jo's book to a young adult with mutual love and respect for her sisters. All of the characters are portrayed very well, and overall I'm very glad that I watched it again so that I could get a better understanding of how great it really is!