I actually heard about this film from CR from That Guy WIth the Glasses. It was on his list of Forgotten Christmas Classics or something (Number 1 on his list). I decided to watch it and enjoyed myself. True I had to skip over the songs 9_9 sigh... such a waste. Ah well.
Over all, I liked this special. The animation is passable, the story is inventive and original. I was even able to get over that stupid backstory about the sack that everyone knows about despite my own leanings in that regard (interpret that as you will).
The voice acting was spot-on. I think my favorite was Andy Griffith as Santa Claus. Maybe it's because I like Matlock and the Andy Griffith Show, but he did great work as ol' Saint Nick.
And I love Sophianna, the heroine. CR described her as "Queen Woobie" (http://tvtropes.org/pmwiki/pmwiki.php/Main/TheWoobie) and while that may be a bit much, I can't deny that aspect of her character exists. Still, she is a very heartwarming character and a really good lead and gets a great happy ending in the end.
So, overall, while not the most perfect special, it's definitly worth a watch and, with some editorial work, could become a great classic in the years to come.
Seriously though, if you haven't watched this, avoid listening to the songs. It will be quicker to try and skip through than to mute. Trust us.