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My favorite remake is probably Peter Jackson's King Kong. Classic story that was worthy of an update with modern filmmaking and effects for a new generation, but also done in a way that paid justice to the original.
My other favorite remakes are Carpenter's The Thing and Cronenberg's The Fly.
Like you said, they took two hokey B movies and turned em into horror masterpeices.
My least favorite remake, thus far, is probably Rob Zombie's Halloween. Took a classic cornerstone of horror movies that in no way needed an update and brought it down to the level of garbage horror movies, as well as completely undermining the things that made the story work in the first place.
The key to a remake is if theres a reason to it. If the original doesn't need an update, or can't be explored further with respect to what it's supposed to be, don't do it.
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