the ultimate Shakespeare adaptation

The occasion: The Onion's Tasha Robinson reviews a new Macbeth.

The questions: which is the best Shakespeare film adaptation? Correspondingly, which is the worst?

The clarifications by way of categorization:

1. Best / worst faithful adaptation using Shakespeare's own words, with "period appropriate" setting and costumes. (Example: Zefirelli's Romeo and Juliet.)
2. Best / worst transplantation using Shakespeare's own words, with updated / modified setting. (Example: Baz Luhrmann's Romeo + Juliet.)
3. Best / worst transfiguration, with a fresh script and a different setting. (Examples: Scotland, P.A. and Throne of Blood, two vastly disparate takes on Macbeth.)

The invitation: name and defend your choices by way of your own blog, in the comments here, or via e-mail to decorabilia AT hotmail DOT com. The winner, chosen by me based on inscrutable criteria, will receive pride, fame, and eternal glory in the form of a sonnet.