First and foremost, Snow White is a product of it's time and that's important to remember when viewing this film. If it's stunning visual effects and strong soundtrack, seek other Disney entertainment. Disney did a phenomenal job of restoring this film for Blu-Ray format, last year, including a 7.1 HD-DTS soundtrack at 48Khz/24-bit. For a movie that was originally mixed for a monaural soundtrack, it sounds great.
The movie has many positive attributes including Snow White's selflessness, kindness to others and animals, and a general sweetness and innocence that is easy for a viewer to see. The dwarves show generosity in allowing Snow White to stay with them, even though she sort of invites herself into their house and lives.
Having said all of that, the Queen in this film, is one of the most wicked villains Disney has used in one of their full length feature films. The concept of killing Snow White with a hunting knife and putting her heart in a box is fairly creepy and this will scare some children. But the movie also teaches that vanity is bad (as demonstrated by the queen) and not rewarded favorably.
As stated earlier, the movie is a product of its time. The animators working on this film were used to drawing Disney shorts with a sort of barnyard-type of humor and this is tame by comparison to many of those shorts. You'll see beer steins around the house of the seven dwarves, but alcohol is not consumed in the movie. Having said that, Snow White (the movie) is loosely based on the Grimm Brothers' fairy tale. Many of their fairy tales were scary and designed to frighten children into obedience or teach valuable life lessons. In regards to this movie, they succeeded.
Snow White comes from the typical dysfunctional fairy tale family, having no father or siblings, and an evil step-mother. In today's age in which divorce rates in the US have reached the 50/50 percentage mark, it may be important to convey to your children at some point (if they have a step-mother) that not all step-parents are evil and if appropriate even suggest that the step-parent watch the movie with the children.