I've enjoyed watching Shawshank several times in its original form and in versions edited for basic cable on TNT and AMC. The movie is among my favorites at depicting themes of mercy and justice, remorse and rehabilitation, service and sacrifice, trust and innocence, and just plain good and evil. Morgan Freeman's longtime inmate Red is the highlight as the narrator and as the primary "redeemed" figure in the story. Tim Robbins' character Andy Dufresne is a Christ figure, unjustly incarcerated among the sinners, persecuted and brutalized, but serving and teaching others and inspiring them to reach higher and, ultimately, to have...hope.
My favorite scene is when the newly-released Red finds Andy's promised money under a tree, but his eyes dart around like he can't quite believe his good fortune, wondering when the police will arrest him and send him back to Shawshank. I've enjoyed Morgan Freeman in a lot of movies, but never better than this scene, and he doesn't even say a word.
Shawshank Redemption is among the most spiritual movies I've seen, and although the conclusion feels like an impossibly happy ending, it offers a beautiful symbol of heaven as two friends reunite, redeemed in paradise. The full movie is definitely for a mature audience, but the TV edited version would be appropriate for teens.