Anti-Climax Boss: After being built up for most of the film as the ultimate threat to the Golden City, One-Eye is swiftly defeated just outside it's limits. By a tack.
Awesome Art: Try to remind yourself every ten minutes or so that the film was made entirely with hand-drawn animation, without a computer in sight. Because you will need to.
Big Lipped Alligator Moment: There's a TON in the "Arabian Knight" (Miramax) cut, but one that stands out is the Thief encountering his mom in the plumbing pipes. It makes about as much sense as it sounds.
Cult Classic: A veritable holy grail for animators and animation fans.
Ending Fatigue: The war machine falling apart. As one observer remarked, it "looks as if someone died from animating it," not only because of the exhaustive, incomparably amazing 3D hand-drawn animation, but for the fact that it goes on for nearly ten minutes after the villain has been defeated.
Fandom Rivalry: With Disney's Aladdin, which clearly borrowed a lot from this film, which was already 20+ years into production when that one was conceived. Richard Williams would regularly show footage of it to the staff of Who Framed Roger Rabbit, many of whom would later work on it, which didn't help. The more pessimistic fans will say that Disney outright stole Williams' ideas, while those more optimistic assume that it was a pre-emptive Shout-Out, as they had no idea if it was ever going to be completed or not.
Fanon Discontinuity: To both fans and non-fans of Richard Williams, the Mirimax version does not exist.
Word of God says that even Richard Williams HIMSELF refuses to acknowledge any version other than his workprint and the Recobbled Cut, only submitting the workprint for restoration and archiving.
Also, the film was finally released under the title "Princess and the Cobbler" in September 1993. A month later, Vincent Price passed away. So Zigzag's final line "For Zigzag then, this is....the end!" is oddly prophetic.
Hype Backlash: An increasing number of people are claiming that the film isn't quite the masterpiece its fans make it out to be, feeling that while the animation is top notch the storytelling is weak and several scenes are mainly animation for animation's sake rather than furthering the plot. (As this article puts it, Williams "had 95 minutes of footage for a 79-minute movie.")
Williams himself later said that this contributed to the film's ultimate fate. Because he was never sure when the film was going to be finished, every publicity piece on it had him declaring that it would be finished sometime soon. The fact that it never was ultimately hurt its reputation and made him look like a liar.
Jerkass Woobie: The Thief is a smelly, selfish... well, thief, who keeps finding various ways to get beaten up, first by an old lady, then a polo game, then a self destructing war machine and even a bed THAT COMES ALIVE FOR NO REAL REASON. He only gives up the golden balls by the end because he feels they aren't worth the abuse.
The Completion Bond Company, really. Contrary to popular opinion, they did not "steal" the film. Richard Williams had signed a contract with them that said he would complete the film at a fixed date for a specific amount of money, of which he did neither.
Narm Charm: For some, the Calvert and Miramax versions are these.
Special mention for the Thief's snarky inner monologue, which for several is the only redeeming factor of the latter cut.
Nausea Fuel: Due to the camera angels and the fluid animation on the 3D objects, it can be pretty easy to watch the war machine falling apart while getting a bit of motion sickness.
Overshadowed by Controversy: By this point, the story of the film's exhaustive production, Williams' tenacity to make it perfect, and its eventual incomplete fate are far more well-known than what actually happens in it.
Padding: A handful of scenes, such as the polo game, the war-torn soldier returning to King Nod and especially the war machine, go on several minutes longer than they probably should for no greater reason that Richard Williams wanted the already awesome-looking animation to be even more awesome. There hasn't been much complaint.
So Okay, It's Average: While no one has yet to balk at the god-tier animation, the actual story isn't seen as much more than an average fairy tale.
Tearjerker: King Nod freaking out upon seeing his daughter on the battlefield.
The history and eventual sad fate of the movie itself could be considered one, particularly in regards to its creator.
Visual Effects of Awesome: THE WHOLE GODDAMN MOVIE. It boasts some of the most smooth, fluid, and overall painstaking hand-drawn animation ever put to film (especially the war machine sequence). It's practically... scratch that, it's literally the only reason the film exists!