Depends on the play. I enjoy some of them but wouldn't be fussed on others.
We did Romeo and Juliet and Twelth Night at school. I remember going to see a Romeo & Juliet production and another local school being so vocally rude about Juliet that she apparantly refused to come back on for later scenes and they had to get her understudy on! Boys school if I remember right!
There are so many modern adaptations though, not even as faithful as Baz Lurhman's Romeo and Juliet (fantastic!). Return to the Forbidden Planet, 10 Things I Hate About You, Romeo Must Die, West Side Story, My Own Private Idaho, Cruel Intentions, Clueless, She's All That, O.