This is certainly a well done movie, with an all-star cast. However, the intended target audience of this film is unclear. While little kids, who know of Pinocchio from story books and the Disney Animated Classic, are sure to enjoy the outstanding animation of the puppet, will most likely be frightened by many of the other scenes. Older kids, teenagers, and many adults often consider themselves too old for the story of Pinocchio; with a few exceptions.
There's also a couple other scenes in the film which make it objectionable for younger children. One scene makes repeated use of the word "jack-a**"; while referring to donkeys, as in the original story, the word seems a little over used for a film that has a "G" rating in Canada (not sure of the US rating). Another objectionable scene is at the end when "real boy" Pinocchio, tells a lie to two of the films villains, knowing that his nose won't grow anymore. To me this counter-acts the lesson to be learned by having his nose grow when he lies in the first place.
Over all the film is still really well done, and very touching (provoking tear-ducts in places). The acting is excellent and the direction seems good. The script on the whole seems good, apart from the few objectionable scenes, which make me wonder what the film's target audience is meant to be; as opposed the recent Disney musical version, titled "Geppetto", which was definitely family-oriented.