I can't watch the flying monkeys. The Tin Man version of things is a bit scarier because it's a bit more real and "adult". Too, everything obviously respresents something else and I don't like that "hidden" quality and having to figure it out.
The Wizard of Oz story, was actually a political satire of the day and not for children at all. Maybe reading about that will help "destroy" the story for you so it is not so scary?
http://www.halcyon.com/piglet/books8-Karp.htm