I read some of the analysis of Pinocchio and it is very different than mine.
I saw Jiminy Cricket as the MC and Pinocchio as the IC, for instance.
I thought the Narrative Argument of the film was "Believe, and your wishes will come true." Here are the first words of Jiminy Cricket, after the opening song:
I'll bet a lot of you folks don't believe that...
about a wish coming true... do you?
Well, I didn't, either.
Of course, I'm just a cricket
singing my way from hearth to hearth,
but let me tell you what made me change my mind.
So we are given the argument right from the beginning. Jiminy Cricket is a change MC and Pinocchio is steadfast IC. OS problem is temptation (Jiminy Cricket is tempted by female dolls, Figaro is tempted to eat before Geppetto returns, Pinocchio is tempted by Honest John, etc.). So the Solution is Conscience.
The Story Driver is action, where the Inciting Event is Geppetto's wish upon a star. Some of the signposts in the OS are: SP1: The Fairy gives Pinocchio life (action). SP2: The Fairy fixes Pinocchio's nose and lets him out of the cage (action). SP3: The Fairy sends Pinocchio the letter (action). SP4: The Fairy makes Pinocchio a real boy (action).
Jiminy Cricket's problem is his Opposition to Pinocchio's decisions (to be an actor, to visit Pleasure Island). It is only when he Supports Pinocchio's decision to rescue Geppetto from the whale that he finds the MC solution of Support, which leads to the OS solution of Conscience.
I am new to this, so my analysis may be way off, but this is what I came up with by applying the theory...