Groups in Cardiff, the south Wales valleys and north Wales were asked about their opinions and experiences in four fields: family life and relationships, play and freedom, boundaries and rules, and the future.
Parents and grandparents thought children today were less free to play without supervision and felt childhood had deteriorated as a result.
In Cardiff, adults were concerned about the danger of traffic, but this was less of a worry elsewhere.
All the groups were aware of "stranger danger", although the media's role in raising that awareness was recognised.
Adults believed that the dangers children faced were not new, but the extent of the risks had grown.
Mike Greenaway, the director of Play Wales told the report's authors: "Possibly the most significant finding, which perhaps should not come as a surprise, is that when asked to choose between their own childhood and childhood today, all the adult groups said that they would keep their own childhood because of the 'freedom to roam' they had as children.
"For many of us this must resonate with our own experience. Perhaps, if we reflected upon this as a society, we might begin to welcome the sight of children outside in our communities, just being and playing - rather than expecting that they must always be 'gainfully engaged'."
Today's children were seen as more confident and open, and parents thought they had a better relationship with their children than they had with their own parents.
Although children valued talking to adults, parents said they were rushed and were concerned about spending enough time with their children.
Looking to the future, children said they were looking forward to the greater freedom of their teenage years.
However they were worried about moving up to secondary school.
Writing in the report, the children's commissioner for Wales, Keith Towler said it was an opportunity to celebrate our children and the positive impact they can have on society.
"It is encouraging to read there was a consensus among most of the parents and grandparents questioned during this research that today's children generally have more opportunities to pursue interests and make their own choices compared to their own childhood.
"This research brings to light that our children are more confident and many of the parents and grandparents thanked the style of schooling for this.
"It also brings to the fore the juggling act many parents and carers face between work commitments and family life. The majority of those questioned believed that spending 'quality time' with their children was essential," he said.
Discussing boundaries and rules, none of the adults admitted smacking their children and there was a consensus that it had become unacceptable.
But while the parents thought children today were more able to discuss and argue over rules, the children themselves felt they had little room to negotiate.
And although grandparents felt children's behaviour had declined, they thought standards in adults had also fallen.
IWA director John Osmond said the report had not sought out problems, as surveys of that kinds often did.
"Despite many concerns that were voiced, especially around children's freedom to play unsupervised, it was striking how optimistic many of the parents we interviewed were about their children's development.
"They thought that children today had more opportunities to develop themselves and, with their greater confidence, should be able to take advantage of these opportunities in later life."
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