Yes, it's true, I enjoyed "Oz the Great and Powerful" much more than the original "Wizard of Oz". I don't expect anyone else to agree, but I will state why I enjoyed it.
Had I grown up in a time where the innocence of the "Wizard of Oz" took place, I probably would have been able to find a connection to the characters in that film. Unfortunately I didn't, and I don't. I do find a connection to the characters in this film though.
I can see the man that the Wizard played by James Franco is, and who he wants to be.... and who he becomes. If I read the character wrong, then as he states in the film, "He fooled me too". I like the goofiness he brought to the role. I once knew a guy like him who strove for greatness, only seeing the dark within himself, not realizing that others saw how kind he was. He wasn't a great man, he was a good man and was the kind who would have a tough "womanizing" exterior, but helped people in need without ever telling others or knowing that others knew about his deeds.
I liked the wicked witch being played by Mila Kunis, because she plays sweet and innocent well. She only embraces the wickedness within her after her heart is broken, when she realizes that everything she wanted were her own wants and not something that was shared. In her naivety, she broke her own heart, but wanted "Oz" to see that he made her that way. She was a girl, who's dreams were broken and needed someone to blame.
What made it all believable was that she was trying hard to be evil and he was trying to believe that there was something good in him. The awkwardness falls in well with characters who jumped in to and are trying to fit in their "new skin".
Again, I expect many people to disagree, but for me, I loved it. The characters were relate-able and I loved them all.