This is a great show. I use to LOVE it. It's all about books (which i refer to as my "truest luffies" and everyone knows that I mean books). Reading Rainbow features many classic and entertaining books with very animated readers. They also make it more excitig by making the story "come to life". They take all the pictures and animate them. And Levar Burtan (if he's still the host) has some very interesting scenarios that he gets into. My brother and I always found it entertaining to guess the age of the episode as well. :) It's an amazing show and I'm so glad they show all the reruns endlessly. I'm also thankful to the fact that my parents shoved PBS and the news down my throat from the time I was born.
This is a great show, and 99% of the episodes are appropriate for children over the age of 4 or 5, but I remember one episode was centered around the theme of slavery, and this is definitely not appropriate for 5 year olds.
When I was younger, I wasn't really into this show (I wasn't into reading). However, it encourages kids to read, and they try to male reading fun. It's usually okay for kids; but one episode was rated TV-Y7 because it was about being in jail and slavery.