My 3 year old daughter absolutely adores this movie. In fact, she likes it better than many of the more highly touted Disney theatrical releases.
The character of Tinker Bell is truly charming, and in my opinion, much more enjoyable than the classical portrayal in Peter Pan. Sue me, I LIKE that Tink can speak. She's still gutsy, and independent, but in this movie has far better motivations for her actions than jealousy over Peter Pan.
All of the faeries' characterizations were entertainingly done, and I like that they all had their own "thing" going on. Other plus points include some really pretty animation (young girls in particular will love the eye-popping colors and the liberal use of sparkle) and a good overall message. Both my daughter and myself enjoyed the celtic-inspired score and tunes, so if your child likes different types of music other than just top 40 pop, she/he should enjoy this as well.
My only minor quibble is that at times the dialogue is a tad insipid and inane, and the over-use of the term "Sweetie" when the faeries are addressing each other.
For a movie that was designed for the home DVD market, I think that this one delivers much more bang for your entertainment buck than many of the big budget theatrical releases.
