I watched reruns of the 1950s "Zorro" TV show, when I was a kid, and to be honest it wasn't half bad. I also like the early 1990s version, on what was then called The Family Channel.
As for movies, the two I've seen are the ones starring Antonio Banderas. "The Mask of Zorro" is a classic, superb in every way. Hopkins, Zeta-Jones, Stuart Wilson, Matt Letscher...all of them were great. I still love it, and watch it on a fairly regular basis.
As for "The Legend of Zorro", I think it was horrible. It fell into the same trap as "The Mummy Returns", giving the main heroes a kid that's so smart he makes them look like idiots. And then, for some unknown reason, its suddenly the kid's responsibility to save the day. No...just no. I hate that kind of thing.