A short observation.
What makes virtually every fantasy roleplaying game have a feel so unlike fairy tales, is that roleplaying games mainly relied on classes, whereas fairy tales rely on archetypes.
A character's archetype defines his place in the narrative; most importantly, his relation towards other characters. The handsome prince, for example, is (1) the object of desire for the maid, (2) the bane of the dragon, (3) the intended victim of betrayal by his younger brother; and so forth. How he will defeat the dragon, thwart his brother and marry the maid - whether by force, intellect or guile - remains an open question until the tale is told.
A character's class, on the other hand, defines his capabilities and dominant mode of action. The fighter is good with weapons; will attempt to defeat the dragon and the brother by chopping them into little bits; and will show off his biceps in orhter to woo the maid. What he will do, and what relations the other characters have to him remains an open question until the tale is told.
What are the virtues and vices of archetypes and classes respectively? I have a hunch that archetypes are more useful in serious stories, but I cannot yet make this precise.