The best sequence is "The Whale Who Wanted To Sing At The Met", and the rest ranges from "decent" to "really not very good". But I happen to find the "package films" fairly unpleasant, so maybe it's just a personal thing.

The most well-known bit is probably Peter and the Wolf, but the Blue Bayou/Clair De Lune sequence is just gorgeous.

A musically charming collection of shorts that has more ups than downs. The stories vary enough to avoid being repetitive, and they are generally pleasant. "The Whale Who Wanted To Sing At The Met" is especially great, as is "Peter and the Wolf". Throughout the movie, the artistry is done with a wonderful and lively touch, and overall I'd say this is a fine composition.