The Chronicles of Narnia: The Lion, The Witch and The Wardrobe is worth the price of admission.
It doesn't have the great battles of The Lord of the Rings, nor does it have the magic of Harry Potter. But it has a heart those don't.
It's wonderfully done, and faithful to the book. I really hope they make more of these movies.
If you want to find out more about C.S. Lewis and the Chronicles of Narnia, I would highly recommend checking out Into the Wardrobe, the best Lewis resource on the net.