It's funny - I watched the Shawshank Redemption for the first time a couple years ago, after hearing forever about what a great film it is, and thought it was so lackluster I wasn't sure if I was missing something.
"Did he die in the end? Was it a dream sequence?" But no, both the intention of the creators, and by far the most common interpretation from viewers, is that it's all literal.
I tried watching Groundhog Day just once, and couldn't make it though it because (I assumed) it had aged so terribly.
Your comment made me reevaluate this though. I assumed the main appeal of these gonna was just nostalgia, and I've missed a key window, but perhaps it's the repeat viewings and predictability that make these films comfort food.