I think some people here are being too sensitive. The drinking just doesn't affect the viewers. I've watched this movie since I was 1 or 2 years old, and I've never drank a drop of alcohol- I steer clear of it. And, the violence from Pete's teacher is normal, even in the 21st century. I'm in a private high school, and teachers have done that before (Of course, they've gotten fired for it, though).
The movie has great role models, notably Nora. She's all for protecting Pete and giving him love and support.