Alistair Cooke, in introducing a re-broadcast of this six-hour series, called it the finest ever shown on Masterpiece Theater, and he'll get no argument from me: it was superb. I quite agree with my fellow commentor's perception that it was the slow unfolding over six hours that made the material mesmerize (the novel is very long too), so I share his concern about the Merchant/Ivory production, but I suppose we'll see. In any case, do not miss this version if you get the chance to view it. Following James's subtle analysis of human motivations is, Cooke memorably said, like "entering the mind of Sigmund Freud," and the greatest compliment I can pay this adaptation is that it does justice to that subtlety. I find the performances excellent, too (whatever happened to Gayle Hunnicutt, who shows such talent here?). And there's a memorable use of Ravel on the soundtrack.
Review of The Golden Bowl
