(edited grade to 3.5: May 08)
As was probably the case with so many people, this was the film which changed my mind about CGI. Perhaps it helped that the characters were toys, who had predominantly hard, non-organic surfaces which didn't suffer from the artificial feel of CGI - but 'Toy Story' had so much more going for it than that.
The characters - all of them - are just great. The funny ones still have depth - there are no gratuitous comic sidekicks - and the serious ones are funny! The jealousy and competition between Woody and Buzz is wonderfully done Woody's feelings of uselessness and rejection are genuinely moving without being cloying or pathetic, and (this might even be a first) for once the hero (and I'm assuming Woody is the hero) isn't a down and out, kind-hearted loser. In fact he's inclined at times to be spiteful, sarcastic and smart-arsed. The fact that most of it goes over Buzz's head just makes it even better. With 'Toy Story', Pixar present us with a quite unusual and multi-faceted hero, who is all the more believable and sympathetic because of it. Rather than a big-hearted sap who just can't help being good, we have a hero who teeters at times on the brink of arrogance. His battle to find his better qualities is a real achievement for this movie.
Similarly, Buzz's sudden reality check when he realises Woody was right about him all along: that he's just one of a half million factory produced toys, not an actual superman, has genuine pathos. No mean feat, either. See what I mean about characters being multi-faceted?
Happily the list of achievements don't stop there. The plot, the action, the pacing and timing, the humour, it's all first-rate And most memorably perhaps, the poignancy of the loss of innocence, of the toys as metaphors, perhaps, for what gets left behind when childhood ends it's powerful stuff. Compare this with the typical 'coming of age' story, where the teenage hero simply overcomes some psychological or physical obstacle and becomes a man/woman/goat/submarine/whatever.
Not only was 'Toy Story' a landmark film - the first to really put the scarers on the traditional animation studios- it's also a considerable artistic triumph, with deeper resonances which only grow over the years with reflection and repeated viewings.
And if that wasn't enough, they turned around and made a sequel which was even better.
You may have noticed I don't give out the four stars very often. Take a picture.