Wow...imagine what this would have been like! Check out this blurb from the L.A. Times, which comes from all the way back in 1989.

Nintendo, the maker of popular video games, is about to gobble up another audience--in movie houses. DIC Enterprises will produce a full-length animated feature film based on the characters from Nintendo's "Super Mario Bros." game. The comedy-drama is planned for a summer 1990 release. DIC also is producing a "Super Mario Bros. Super Show" animated series for first-run TV syndication, in addition to the already announced Saturday morning animated series for NBC.

I can't decide if this would have been better or worse than the live-action movie we got! Super Mario Bros. The Movie is good for all the wrong reasons, and grew a cult following over the years. An animated feature film from DIC might have ended up being even more infamous!

Thanks to cm30 for the heads up!