I watched it the other night and it's still a lot of fun. It's my wife's favorite Indy film and I know a number of others who consider it at the top. I do wish some of the comedy had been toned down a bit, as it's clear that they're walking on eggshells to avoid doing anything too controversial, but that's a minor gripe in the grand scheme of things. It still ranks as my least favorite of the original three films, though over time it has started giving Temple a run for second place.
And in this sort of race there's no silver medal for finishing second.