I'd like to echo some of what's been posted.
I love Le Mis, and I've seen it in its live musical format a few times. I listened to the soundtrack growing up, as they were excellent pieces to practice on various instruments.
Russel Crowe has no business being in the movie. If it were an acting part I'd say he's a great choice, but it's not, it's a singing part. He looks so stiff while singing, and that's probably because he realizes he's not doing a very good job. He's not exactly in a bit part either. It's Javert. Javert needs to hit it out of the park, he's not in a chorus, he's singing solos that are supposed to make youfeel.
Anne Hathaway is easily as good as the best Fantine I've ever seen and practically stole Act I. The director and others that worked on the film must have known this because there are somedaringshots they take with her, long single shots where she holds the character extremely well. Hugh Jackman was middling to good, he's a decent anchor as a Jean Valjean.
Other notable performances were delivered by Samantha Barks as Eponine, and Aaron Tvveit as Enjolras. In the movie format, there was quite a bit cut from these characters' song parts (A little Fall of Rain in particular doesn't have the bridge followed by the other chorus). The Marius casting choice grated me, but I find no real fault with the acting and his singing was delivered well. I didn't mind seeing the Little People number cut down to what it was, the movie's tone wouldn't have fit the extended version. The downside to that of course, is that we don't care as much about Gavroche, and when he is shot it isn't nearly as heartbreaking as it is in the musical.
Overall I'd say the movie is a 3.5/5, which is certainly more than I'd ever give the Phantom adaptation.