The only first rate thing about this production is the diction. It's really possible to understand most of the words most of the time. That is achieved, unfortunately, by fairly deep cuts in the text which needs to be spoken.
The worst thing about it is the wretched portrayal of the Fool, whose lines are the most severely cut. Without his empathy for the Fool, the King seems merely a pathetic, vainglorious old fool himself.
I have loved this play ever since I read it in junior high school, and I've never seen a production that satisfied me. I suppose I'm a tough audience. This film had one good result; it sent me back to the text to see what the director and actors had missed.