I watched it on blu ray.
The animation
The animation quality and choreography is absurdly good. Everything is very fluid, detailed, and expressive. There's also a lot of weight to the characters movement, meaning everything feels semi realistic...as realistic as an animated movie with singing lions can get. There are points in the movie where it looks like genuine camerawork was done. The designs are strong, and very aesthetically pleasing. There's also a lot of other tiny details that make the movie very visually pleasing.
The music
Not a single song I didn't love, and unlike a lot of animated movies the score by hans zimmer really ads to a lot of scenes. The ending wouldn't be the same without the king of pride rock playing, nor would the stampede scene feel the same without the music. Etc
The story. The strongest of all the disney renaissance films. i wouldn't say it is flawless but the actors put on fantastic performances, the writing is sharp and the jokes are genuinely funny. There's also the little stuff like simba learning from nalas pinning on scar, to beat him in the battle for pride rock. There's the part in the elephant graveyard scene where simba is trying his best to protect nala. I do not believe for one minute that simba and nala fell in love five minutes after seeing each other as adults, they already cared for each other a lot as cubs! etc etc etc the story is timeless, it doesn't feel like a product of its time.
The only character i feel got sold short was sarafina. only one line in the entire movie!
If there's one thing i'd change, cub nala needed more screentime.
i have read about a song called the lion in the moon, a real shame it never made it into the movie.
I have seen over 500 movies, and this is in my top 3 easily just due to how excellently crafted it is.