A movie for mature, culturally interested children.
This is a fanciful adaptation of Norwegian folk legends. While certainly not a blockbuster or a roaringly entertaining flick, it still provides a beautifully told story that is commonly seen in watered-down, very PC versions. While sensitive children might not benefit (as there are scenes of wild animals and the subject of overt evil) a mature child, older child, or someone interested in world cultures would be able to handle this just fine as well as learning about different kinds of oral traditions.
The cinematography is beautifully done, especially for a low-budget and older film, and great attention is paid to props and costumes in making this feel more like a filmed play. The story is timeless: faithfulness, keeping your promises, and having the courage to face your own mistakes and your fears. In the end, as with all truly fantastic movies, Good triumphs over Evil.