I really enjoyed the first one, but had resigned myself to no-one doing it properly. It was especially frustrating because, and sorry to disagree, but Downey Jr was perfect. Holmes has been adopted as a serious literary character, but in fact, he was slightly larger than life and absurd, which I believe was Doyle's intention, albeit with that dark edge. Downey Jr could have done that easily, but he was somewhat lost in a film that was excitement and thrills first, plot second.
Rather than dismiss one, I enjoy both current interpretations. The first film is one of the best blu-ray experiences I've had; such rich detailed sets, and barnstorming silly adventures. The beeb series is simply awesome. Can't wait for the second series.