It's not very good by today's standards. Even by the standards of back then, the audio mixing is quite bad, with the music drowning out the dialogue. But I find the art style and animation quaint and charming, in the way only old-school anime brings

My personal experience with this comes from the fact that I was lucky enough to see this animation from a Cartoon compilation DVD that had, as you would expect, a collection of old cartoons. This was the only anime on that disc, so it stood out to me. Sadly, I've since lost that DVD

I'll start with a personal piece I once forgot about but rediscovered. It's this Wizard of Oz (Ozu no Mahōtsukai) OVA from 1983.
www.youtube.com/watch?v=oh_3...
There have been a few other anime adaptations of Wizard of Oz, and this is the second Japanese adaptation after the 1982 adaptation