This is a 'fairytale' with all the traditional ingredients - a princess locked in a tower, a hero on a quest to save her, a scheming villain, true love leading to a happy (if somewhat unexpected) ending, and a supporting cast including everyone from a delightfully French Robin Hood to the gingerbread man. However, Shrek is certainly not a traditional fairytale.
For a start, the hero is, by his own admission, a big, smelly, ugly ogre. Secondly, this is not only a movie for kids - much of the humour will only be fully appreciated by adults. And Shrek will have *everyone* smiling, giggling and laughing out loud. All of the characters have their funny and memorable quotes and scenes, but the best lines come from Donkey (although occasionally he seems to be trying just a little too hard for comic effect).
The computer animation is stunning and with a just a little imagination you can see that the characters somewhat resemble the actors who provide their voices. There is definitely a bit of Eddie Murphy in Donkey anyway. It is perhaps the attention to detail that is most impressive - the facial expressions are just fabulous.
Shrek is a must-see film, because almost everyone will find something to like about it (although perhaps not those who like their fairy tales to be predictable and perfect). But as Princess Fiona ultimately learns, 'perfect' is an illusion and only once you accept who you are, can you live happily ever after.