I agree wholeheartedly! His role in Blow, for instance, was incredibly well-done, and he continues to be an icon from my childhood, anyway. I would gladly have my yet-to-exist children grow up with his shows. It's better than most of the garbage on TV nowadays anyway.
With regards to his indiscretions, so what? I agree that it's somewhat inappropriate to be hosting a kids show after being caught with porno, but the man ducked out of the limelight completely and has quietly re-emerged as a humbled person. I'm glad he's dusting off the bowtie and the funny outfit. Pee Wee Herman is a hoot!