Nothing wrong with it!
The Common Sense review said it was "not age appropriate" and under "Is It Any Good?" they criticized the movie for being imperfect. Well, the Orson Welles character did always seem like he was acting rather than talking normally, but only because the real Orson Welles was like that, along with many self-centered stage actors. Although there were a few tiny mistakes, there was wrong with it. There were some minor suggestive things, and the sex was technically underaged, but nothing was actually shown. The smoking was only for realism--most people smoked back then. It's no big deal.