Re-reading old favorite children's books provides an interesting opportunity to revisit childhood experiences and evaluate them from an older perspective. This can sometimes backfire; I may have loved something as a child, but as an adult, the allure is replaced by an underwhelming sense as all its flaws are now more evident. However, I would say the majority of the time it's pleasant to re-read books from Way Back When, especially when it turns out that these books are "Actually pretty good."
(Past-tense Me, being able to hear this approval from Present-tense Me, can't help but feel vindicated in her choice of literature when this happens.)