As a child, I adored this book, and spent hours poring over the charming stories and beautiful illustrations. Knowing that the tales were compiled by someone distasteful doesn't change how I feel as an adult. Really, this is just a collection of folktales and poems, and it's not diminished at all by the reputation of the editor. Examining this book again now, the only possible criticisms I can think of are that it's too short, and that the reading level may be too advanced for the age group that would enjoy the stories most. Every child is different, though, so of course your mileage may vary.