I hadn't read this before, but with John Scalzi's Fuzzy Nation coming out I wanted to read the original.
The story itself is really cute, it's fun to imagine intelligent stuffed animals. It's really easy to care about them and want things to work out for them. Also, the reactions from the corporate world in the book make complete sense, as nasty as they are.
However, it is very obviously a product of the time in which it was written. The rampant sexism is a little hard to overlook and tends to pull me out of the story. The technological anachronisms are also a bit glaring, but for some reason those don't bother me quite as much. They're still very obvious, but don't bother me as much as the sexism does.