The Great Gatsby: Baz Luhrman, well-known for his excesses, may be a perfect choice to tell a tale in such an era of excesses. The assault on the senses are not as intense as expected: while there are moments where colors, movements, sounds, music explode or the editing is lightning quick, there are also quieter moments that allow the sad tale to move along. It’s a nice story and it’s nicely told. Leonardo DiCaprio defends his role admirably.
I should add that it’s been a long time since I watched the 1974 version and that I’ve never read the novel. As such, I could not compare this version to anything, only to itself.