I couldn't sit through this one.
I tried. But. The man-in-a-cat-suit as a special effect just doesn't hold up. Perhaps it's my age, or perhaps just that I'm spoiled by the proliferation of advanced special effects, but it completely took me out of the episode.
Which I suppose is a pity because as far as I did get, the writing was amusing and, although Faerie Tale Theatre didn't deviate much from the original story, the dialog and scripting was clever. I say they didn't deviate much; I suppose they may have, in the end, but I couldn't get that far.
I would only recommend this one to dedicated fans. You can watch it for free on hulu.