I am from the Philippines, hate to break it up to you but Taiwan's Meteor Garden is actually the first (as far as my knowledge goes) live action version of an anime broadcasted here in our soil. It pretty much opened the floodgates in Philippine TV, the continuing success of both foreign (Asian to be specific) and local live action spinoffs here in the country is mostly because of the Meteor Garden mania during the early 2000s. I'm pretty sure that you're aware that Meteor Garden is a live action adaptation of the manga and the anime Hana Yori Dango. The anime and the japanese live action Hana Yori Dango were both aired here, the anime flopped but the live action did well even in its recent re-run.
Now, for the thread. Not to be rude or anything to you but to me there's no such thing as an "anime live", when a live action spinoff of an anime is created the live action product is simply not an anime anymore. Whether its good or its bad simply depends on who you're asking, there are lots of live action fans around Asia today and some of them aren't even aware that they're watching a live action spinoff of an anime or a manga.
As an anime fan, and a bit of a live action fan, i tend to judge both versions differently but comparisons are quite inevitable. To tell you the truth, i've watched every single J-Drama aired in the Philippines before they were even aired on Philippine TV. Gokusen, GTO, Hana-Kimi, and Hana Yori Dango live are all pretty decent spinoffs if you ask me, in fact, HYD anime bored me but the live action did otherwise. Some shows are even star studded, too much stars doesn't guarantee a good show but you could say that these live action spinoffs are well budgeted and taken seriously.
Up to now i've never seen a bad live action adaptation of an anime and manga. Some adaptations did even better than the manga or the anime original in the popularity and aesthetic department. Here's a brief opinion about some of those that i've enjoyed more than the manga or the anime original:
Honey and Clover: Good presentation and gives a soft, lighthearted dramatical impact on the viewer through simple storytelling. I enjoyed it more than the anime...
Suicide Club: One of the most acclaimed "Horror" films in Japan and Asia, the live action delivered the visual impact that can never be achieved in paper.
Kurosagi: From the popular manga about swindling, the live action version caters for a wider variety of fanbase. The complexity and some shonen elements are there for the thinkers and the males, the cheesy love-hate relationships are there for the girls...The popular Japanese actor Tomohisa Yamashita takes the lead role, and popular Japanese actress Horikita Maki of HanaKimi fame is the leading lady.
Zettai Kareshi: The live action features Hiro Mizushima (Nanba of Hana Kimi, and Tendou of Kamen Rider Kabuto) and half Japanese/half Filipino actor Hayami Mokomichi. The manga bored me but the live action entertained me...
As a Tokusatsu fan, i've always enjoyed and preferred the Toku versions over the anime and manga versions....Sailormoon, Barom One, Kikaida, Cutie Honey, Inazuman, Red Baron, Giant Robo, just to name a few.