I loved the Scholastic book fair and still do love it. I just offered to run the fair for my children's school. I hope I still love the fair after running it. I'm kind of nervous now....
I loved the Scholastic and Arrow book order forms, but we didn't have the fair at my school. The kids go insane over it at my daughter's school, though -- it somehow magically turns every child into a book lover.
We have a book fair at our school. I usually take off and volunteer one day there. The kids love it. My son was so excited and he's not generally big on reading.
I will say that for the amount of work it is book fairs don't always generate that much money. I am still a big proponent of them but for some schools that really need a big fundraiser other options are better.