New Hairspray better than old version

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I saw this yesterday with my parents and my son, and I thoroughly enjoyed it. My 5 year old was dancing in his seat at some of the music and it was a lot of fun just to watch him, but the movie was great. The girl who plays Tracy is just awesome. The whole cast I think was dead on wonderful. Queen Latifah and the guy who played Seaweed were standouts as well. I had not been all that eager to see this movie because I hadn't particularly enjoyed the 1988(?) version with Ricki Lake in the Tracy role, but then I kept seeing clips about it and started changing my mind about it. I think it was a charming movie, really delightful. My mom thinks it could actually win some Academy Awards. I'm not as positive about that (although I think it would be great), but I think that the movie has definite Golden Globe award potential since they split the movies into Drama and Musical/Comedy categories. Who else has seen this? What did you think?