Fun and memorable the first time around, when I was very young and unable to appreciate it as more than a fanciful story. The allegorical elements went completely over my head. (And, lets face it, I was slow to get over Edmund's glaring attitudinal defects.) 
 The second time around I could recognize it for the middle-grade masterpiece that it truly is. Compelling in its imagery and evocative in emotion. This time I particularly noted that the pacing carries on at a steady clip, and the cadence is brimming with Lewis' conversational elegance. The almost lyrical vocabulary, while more extensive than its contemporary peers, feels likely to pique the curiosity of young readers rather than talking down to them. 
 I still don't know that I'd recommend it for kids under the developmental age of 8, given the length and number of uncommon words. But for the children who are ready for it, this is an excellent fantasy primer.