I'm also torn on the subject about "live action" Anime/Manga. I've seen some good "live action" movies based on anime/manga like the Nana movies. The thing is though I don't agree with these types of movies just being made because they can! I don't agree with "americanizing" anime/manga for our audiences. We shouldn't cut or change the art work that so many people have worked so hard on so that the general populace will "get" them! Look I'm all for bringing Anime/Manga to the general public but I just don't think we should sacrifice story or art (or talent) just so that "everyone" relates to it! More often then not these movies are not very well translated. I often find that the characters come across very cartoony!
If I understand correctly the Nana movies and DeathNote movies were produced in Japan with Japanese actors who understood and respected the artists that wrote the Anime/Manga and the fans that love them. I feel that some of the "live action" movies being released now are just someone trying to cash in on the popularity of these Anime/Manga.
I know a lot of people probably won't agree, this is just my opinion.