According to ESRB, this game contains: Mild Language, Violence, Use of Tobacco
Parents shouldn't find much to complain about with this game. As I write this, I'm hard pressed to remember what "mild language" even was; I don't think there was anything worse than a "damn" or two. And tobacco made its appearance because one of the characters usually has a cigarette dangling from his lips—a sort of ship-flying John Wayne. Violence is typical to that of most videogames, but it's not graphical or gory. This game is, in my opinion, much cleaner than what a typical teenager will see at the movies or on television.
I think this game was designed primarily for Fans of Final Fantasy VII, so they should definitely give it a whirl if that universe still appeals to them. Players of modern FPSes will likely think this game is too basic.
Deaf and Hard of Hearing Gamers will be able to follow the story via subtitles, if they enable this option. Frankly, I think subtitles were helpful in general, as there were some spots where the dialog was tough to hear or understand. There was a spot or two where a sound cue helped me, but I don't think it provided a significant advantage.