For hubby and I it was a mixture of the funny and desperately sad. And we vowed to never become so protective of our daughter that she wouldn't be able to have the fun that goes with the odd risk. So during her toddler years we used the phrase "Remember Sipowicz" whenever we felt that we may be in danger of over protection......but wow it is hard! hard to see the small person that you adore doing something 'risky', going on the 'big' swing with no straps for the first time! Riding a bike, climbing a tree, horse riding etc etc (getting sweaty palms here just imagining it...
Fast forward.....................
So then when she was 3 we went and saw Finding Nemo. Aside from the fact that the scene in which the mother and all the eggs bar one are killed and eaten by a barracuda, leaving Nemo's Dad alone with one deformed egg, affected my sensitive daughter so much that she screamed and begged to leave the cinema, and is now scarred for life; we enjoyed the film.

Which brings me to Risk assessment. :-) (I can hear you yawning, yes you! you at the back!) any way we had a safety talk at work. We defined the difference between a HAZARD and a RISK.
A Hazard is something that could cause harm, and a risk is how likely that is to happen.
For example a tiger is a hazard, in a room uncaged the risk to you is HUGE but the same tiger, caged is barely a risk at all, the hazard is the same, the risk is managed.
So now I'm a parent that tries to risk manage WITHOUT turning into Sipowicz or Marlin!
Horse riding? learn at a good stable and wear a hat and back protector.
Swimming? Learn at a good swim school, and learn the hazards associated with open and cold water.
Not sure I'm there yet but one day, maybe when she's 35 I'll let her cross the road alone.....