Director Sam Raimi is returning to one of cinema's most beloved places, with his "Spider-Man" trilogy co-star James Franco in tow, for the upcoming "Oz: The Great and Powerful."

We've seen the poster, but now Disney has released the first trailer for the film -- just in time for Comic-Con.

Like the most famous of the many "Oz" adaptations, 1939's "Wizard of Oz," Raimi's film appears to begin in stark, beautiful Black and White in small town Kansas, where struggling magician Oscar Diggs (Franco) longs to be considered a "great man." After a frighteningly real twister drops him in the enchanted land of Oz, he just might get his chance.

It's no surprise that Raimi's Oz is a colorful, visually stunning place full of wee creatures and strange people (including a very creepy green hand at the end of the trailer. Hmmm...who does it belong to?).

Disney is also keen on reminding audiences of Tim Burton's $1 billion "Alice in Wonderland" a few years back. Like Burton's view of life through the Looking Glass, this "Oz" looks really expensive. Let's hope that all the CG effects and kid-friendly fantasy elements don't drown out L. Frank Baum's sturdy source material. 

Co-star Mila Kunis doesn't have much to do in the trailer, but looks appealing, though you have to look pretty fast for Michelle Williams and Rachel Weisz. Both play witches -- one good, one wicked -- but both hot. It also stars Zach Braff ("Scrubs").

"Oz" opens March 8, 2013.