Back in college I had a couple friends who had been very fond of this film as kids. One of them bought the videotape (yeah, this was some years ago) and invited me to watch it with them.
The looks on their faces when they realized the vast gulf between their memories of the film and its actual quality were sort of tragic.
I remember a bit. The Dragon is invisible and the boy gets blamed for the damage it causes. Plus people tell him it isn't real but then it is but then it has to go away so the little boy can live with the parent figures who were introduced early on.