Don't let the reviews of this film turn you completely away.
It's a fun film, especially if you watch it with appreciating children, and worth at least one viewing.
Though it is abridged somewhat disappointingly, I thought this version was entertaining. It is true that Jo is just not Jo in this film (where's the spunk?), but I rather liked Chris Sarandon as Friedrich, even though his portrayal is rather more rough than Alcott's character (hey, let's just be thankful Bhaer was in this version at all--I love this character.) The children cast was good, if not occasionally cheesy in their line delivery.
Actually, the only things I really disliked about this version was the narration, (which seemed only to exist to fill gaps from where they skipped over places), the lack of Laurie and Rob Bhaer, or any other Marches, and how they handled John Brooke's death...but this is coming from someone who has re-read all of these books so many times, no movie could ever live up to my high expectation of its charm.
So yes, watch this movie, and look over its faults. I was just so relieved to find that the makers had respected the book and kept Fritz that the movie is thereby fantastic.