I vaguely remember watching the anime when it was released on video.
I, too, have been in the past dissapointed by those hollywood adaptations of books/films/animes/theme park attractions. Then again, it's not like we have any real money invested in such projects. All we could lose is 300 yen for the DVD rental unless you splurge and go see it in the theater. I am sure you will at least have an OK time ejoying / tearing apart the movie that is worth 300 yen.
BTW, the link did not work for me. Does it mention if any producers/directors/actors are attached to the project?