I couldn't resist. I like quirky things. Besides I remembered watching this when I was a kid (funny how the memory and the reality can be so different).
Forthwith the review I posted to Amazon:
If you have always had the urge to see Pinocchio incinerated by an atomic mushroom cloud, then this is the movie for you. It starts out as a rather lame remake of the Disney story, complete with second-rate songs (Geppetto in particular looks suspiciously similar to the Disney version) except that Pinocchio is for some reason now living in contemporary New Jersey. Once Pinocchio makes it to outer space, though, they junk the musical stuff and the story turns into a fairly decent kid-level space opera. The underground scenes seem inspired by Forbidden Planet with some overtones of The Jetsons. Although the story is a fantasy, various serious science facts are scattered throughout. It's the kind of movie with dialog such as, "They've been feeding the animals radioactive food to stimulate mutations!" followed by an explanation of what mutations are. According to the producer's commentary it seems the outer-space part came first, and it was later decided to make Pinocchio the main character because he is the one fairy-tale character who ponders moral issues. You have to admire the audacity of the concept. The ending seems to promise a sequel, but so far as I know this was never made. What would have come next? Pinocchio versus Frankenstein? Beverly Hills Pinocchio?