When the Holiday Special isn't boring, it's so bad that it's good. If I could measure the number of laughs and good times I've had with my friends watching it on bad movie nights, It would easily blow the PT away. I definitely find myself in the mood to watch it more frequently than any of the movies in the PT.
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I never thought about it until I wrote it down just now, but I think that probably means I like the Holiday Special more than the PT. :o