Opinions on "Labyrinth" tend to be varied. Personally, it's my favorite Jim Henson project ever. But many Muppet fans feel differently.
Have you seen Jim's other fantasy film, "The Dark Crystal"? It has kind of the same look and feel, but it's not as dark. Jim caught a lot of flak for making DC as dark as he did. People weren't expecting that from the creator of The Muppet Show and Sesame Street. So he put in a lot of comedy (courtesy of a script by former Monty Python person Terry Jones) and a lot of music (courtesy of Bowie, who also plays the film's villain).
Ironically, many Henson fans hate this film now because of all the songs and silliness. They feel the film can't be taken as seriously as The Dark Crystal. However, I feel that in spite of its stunning production design, Dark Crystal just feels too oppressively dark after a while. I like the music and the humor of the film.
I also think Jennifer Connelly does a great job as the heroine. (She's too young for me there now, but she's still lookin' fine these days!)
So, while I don't know your sensibilities, I hope I've given you enough information to know if *you* want to see it. If you do, please let us know what you think. We talk about Labyrinth often in the Fantasy Worlds section of this forum. (Note to forum administrator: this thread, in fact, ought to be moved to the Fantasy Worlds section as well!)