So you're aware of it but didn't grow up on it?
In that case, you can probably skip it. Even though I grew up watching it (we had a dubbed VHS copy) I was always aware that Martin as Peter Pan was a bit odd, not to mention the blonde haired, blue eyed Tiger Lily and the ridiculously effeminate Captain Hook. So I can only imagine the impression on a present-day adult watching it for the first time. Some good songs in there though, as far as broadway musical numbers go