I laughed pretty hard the first time I saw Austin Powers. It's almost too bad it became as popular as it was. It would have made for some pretty good inside jokes. I showed it in class at lunchtime a few years back. It still held up pretty well.
But the awesome thing about it is the soundtrack. It's such a sweet taste of the late 60s. While I don't exactly watch the movie much anymore, I still take a listen to the soundtrack every now and again.