My memory gets a little fuzzy when I attempt to go back farther than about 3 years, but I'm fairly confident that I may have seen this movie before I saw Star Wars, Alien, or any other movie that it parodies.
Regardless, upon first viewing I didn't 'get it', and it was largely lost on me. I enjoyed the visuals and the more slapstick comedy, but not the references.
Years later, now that those movies have become a large part of my personal influence, I am able to revisit this flick and thoroughly enjoy it.
It hasn't aged particularly poorly, (for 80's comedy) and still makes me smile during certain scenes.
I vaguely remember seeing a teaser poster for a new Spaceballs. It was a parody of the Episode III poster where Anakin's cape is forming the face of Vader against a red background. (Hayden is to the right, Vader to the left.) The new parody poster involved Mel Brooks in the place of Hayden.
I was going to post a picture here of that poster, but exhaustive research has failed to produce Any imagery of it. I have found several old news posts about it, but nowhere have I located this poster.
I hereby issue a challenge: A cookie to the first person who posts a URL where I can find this poster.
"Facts are stubborn, but statistics are more pliable."
P.S. I get to choose the cookie.