Well made, but a little...obvious.
Oh my, a fairytale with a dark and violent twist? heh. How novel. *cough*
Anyway, yes, i must say it's very well made. The graphics are detailed and clear, with a good sense of style and the audio aspect is likewise polished.
Unfortunately, the "Twist" element is just a little bit on the crypt-keeper-obvious side, and the whole "Dark and violent fairytale" thing is a little bit on the side of cliche, in my honest opinion. (see american mcgee's alice, etc. or don't, aparently it wasn't very good.)
Not being an expert on the original versions of these little fable's i can't honestly say i know which bits are original, and which bits aren't, but i felt that original or not, the "metal corset" part was just a bit ridiculous, and quite over-done. I actually laughed, to be honest, at the suddenly urgent, melodramatic twist in narrative style, at that point. :)
I must say again though, apart from a couple of factors, it is technically superb, and whether i am fond of some elements of the style, it is still clearly very well directed and animated, etc.
Generally much better than the average amiable dross, but lacking that true spark of something genuinely Original