Pete's Dragon Reboot

When we think about classic Disney live action films, titles like Mary Poppins and Old Yeller pop into our heads. Pete's Dragon isn't usually included in this list. Although it has some kind of a cult following and has a lot of heart, the film is widely regarded as...bad. The music is catchy but dated. The acting is done well by some and awful by others. The story is cute. But the film was never a favorite among critics and audiences alike. I grew up with the film and while I enjoy some of the music and appreciate what the story is going for, I can't argue in the movie's defense. It is not good.
It was a surprise to all when Disney announced back in 2013 that a reboot was in the works. Why would Disney reboot this of all films? I'm actually excited for the film. I think Disney would only want to reboot a project that needed lots of work so that the classics can remains classics and the one that needs work could get a fresh take and redeem the story, hopefully. I think this reboot can certainly redeem the story of Pete's Dragon.
Let's first address the changes that have been announced. The first change, and the most obvious and minimal, is Elliot the dragon who will go from a hand drawn animation to a CG dragon. This change was pretty much a no brainer. Since CG is the popular animation form these days. Hopefully this change will make Elliot more realistic but hopefully not too realistic like a dragon from Game of Thrones or Harry Potter. The second change regards a friend for Pete. Pete was on his own in the original film. Now he will be accompanied by a friend named Natalie. I'm not sure how big a role Natalie will play though she will certainly change the script and the character of Pete quite a bit. While I like Pete on his own and his bond with Nora, I think him having a friend will be nice. I hope this reboot can balance Pete's relationship with both Natalie and Nora so that he can have a mother figure and a friend instead of one acting as both. The final change, and the biggest one, is that the new film will not be a musical.
These changes are big and different but in my opinion fresh and exciting. I am actually looking forward to seeing this movie in theaters. By the looks of things, I feel like this project is similar to the recent film Where the Wild Things Are. While I'm not a huge fan of that film, it is good. I'm kind of hoping that these changes hint toward a similar style of storytelling in that Pete's Dragon could be a movie about childhood but not necessarily for children. It could be a more organic film and make fantasy much more of the reality it truly is. Or it could take an entirely different route though I hope it doesn't. I did read rumors that they are changing the original plot where Nora will be a park ranger instead of a lighthouse keeper. Of course I will keep an open mind but I do wish they would stick to the original story because there was a romanticism to the lighthouse and Nora's longing for Paul to return. 
What do you guys think of the reboot? Are you excited or does it make you cringe? Let me know in the comments!