It's been ages since I've read the book, but Chronicles of Narnia: The Lion, The Witch, and the Wardrobe brought everything to the surface with surprising clarity. The movie was quite faithful to the book (or at least to my recollection of it).
Georgie Henley, the actress who played the youngest of the Pevensy children, was a real joy to watch. The look of wonder on her face was infectious and sincere, not at all forced as in Spielbergian fashion.
The Ice Queen wasn't quite what I envisioned her to be. I thought she would be slinky and seductive. As the movie progressed, I realized that the portrayal of the Witch of Narnia as a raw, elemental force was better done.
The effects of the battle sequences were well-executed, but I think it could have done with a bit more of build-up and suspense. But this is a minor nit. The battle, after all, was not at the heart of the movie.
Six books to go!