I didn't grow up during the 80's, and I only saw some of his movies. But I'm well aware of his success during that decade.
One thing that I cannot figure out is how he lost his touch by the time the 90's rolled around. With the exception of the first "Home Alone" movie, he seems to have stayed away from the director's chair, even though he kept producing movies during the 90's. Maybe he ran out of ideas?
Anyway, R.I.P.