In time for the 1978 season, the Magic Lake Show at the Gurnee Great America park was massively revamped. This is the version that's more well-known and it's a step-up from the early crude 1977 version.

This version gave the show a proper finale. The show ends with a Moog version of the "That's All Folks!" melody, with the barge lights spelling out the words.

From 1978 until 1982, the barges originally had the Big W Warner Bros. logo. It would disappear on a music cue, as to switch to a Looney Tunes character.

Around 1983, the Big W on the barges was changed to the more iconic Warner Bros. shield. This remained throughout the Magic Lake Show's run, until its final performance in 1998.