My ten year-old read all the books and loved the movie. I'd read a couple and loved the move too. Much preferred over The Chronicles of Narnia and Bridge to Terabithia by both of us. The story clips along and is fine and dandy.
Terrific dance sequences and pretty good story—mucked up in the last twenty minutes though. Too much studio involvement perhaps.
You'll love it or hate it. I definitely liked the idea of leaving out all the boring parts, which is a main idea in the flick. But the story needed more fabric and the dialogue needed well, a writer?