I saw both the TV movie (in 2 parts) and the animation movie.
The later is typical Japanese, with lots of thoughts and inner reflection, even to the point of being boring sometimes. There was however the poetry inherent to Earthsea. It took some ideas from the 3rd and 4th book but that connexion was very loosely adapted.
In this, the TV movie was much more faithful of the books, at least at the beginning, and the first part was truly excellent and in tune with the books IMO and was very reminiscent of the first book (that is the apprenticeship of a wizard and the price of showing too much pride). The second part happened on the isle of Atuan (and the famous labyrinth where Ged spent a lot of times in the 2nd book).
The movie gives an sort of answer to what are the being worshipped on Atuan and the movie made them like demons crossing a planar gate. The way the whole thing was brought was a bit ridiculous but on the whole I found the movie quite entertaining and the 1st part excellent (including the FX) and Kristin Kreuk is just lovely.
Here are some comments of Ursula Le Guin on the movie: http://www.ursulakleguin.com/Earthsea.html and
http://slate.com/id/2111107/ and
http://www.ursulakleguin.com/MiniEarthsea.html