Great movie for families without very young children
I took my family (myself, wife, and 14 year old daughter) to this movie and we all thoroughly enjoyed it. It was captivating from the start and it held my attention until about the last 5-10 minutes of the climax fight scene (the movie is a full 2 hours long). The movie is free of any bad language except for a few irreverent uses of God's name. There are no sexual situations, although the chief villain (Morgana) is shown a few times in a very form fitting 'root' outfit. No skin is shown (she is wearing a leotard thing that is covered in vines), but her natural female form (breasts, hips) is obvious, just as they would be in a one piece bathing suit. When Merlin arrives from the past as a high school aged boy, it is obvious that he made the trip without clothes and walks into a store to get some. There is no nudity in that scene, but the movie makes it clear he is naked before he gets clothes.
Whenever someone has done, or is doing something bad, (primarily bullying) it is presented as a bad choice. A primary message in the movie is about the ability to overcome adversity by making allies out of your enemies. I would not recommend it for children who would be scared by the Dark Riders of the Lord of the Rings. The main bad guys of this movie are almost exactly like Ring Wraiths, and at one point many are literally sprouting out of the ground to come after the heroes and heroine. The main monster morphs into a pretty scary looking dragon like entity as well. Children differ on their proneness to being frightened, but I would estimate that most 10 year-olds will be able to handle the fear factor.