A pared down version of the novel.

Rating: Null/10 (4 June 2004)

* Mild Spoiler Alert * :)
Even though I'm rusty in remembering all the events that happened in the book version, I felt that the film made a great compliment to visualizing what are the important parts (and plot moving events) of the book. Sadly, this leaves very little development in the feud between Hermione and Ron's familiars and very little screen time to fully introduce Sirius Black. If I remember correctly, Black signed the consent form to visit the village by the end of the novel and nothing is revealed in the film about that.
By spending time in glamorizing the CG generated world of Harry Potter, it distracts than getting to the point of the story. There is a point of doing it in the first movie, the second time around it does get bothersome and the third -- you get the idea. :) I'm glad very little time is spent in the Quiddich matches, which are more heavily prominent in the book series.
Sadly, this leaves holes to the overall story and for what purists may consider "Rowling's Vision that must be put in the big screen" (tm). I didn't mind the changes made to make the movie, otherwise it would've been a longer movie with dull moments to sit through. It is something which I think the fourth movie will end up being when considering how voluminous it is; I'll be very curious to see how that will get pared down).