hmm, well I have to agree with you there lyrs, that would be the best way to do it even tho it probably won't be done.. because of the time restraints leveled against it. Just because we've never seen something that could pull off a Rei succesfully yet just means that theres still things to look foreword to in the future. What if, by chance, they actually get it right, and come out with something nobody.. anywhere.. has ever seen on film before and that revolutionizis the filming industry (Think of the last thing to truely shock you in cinema). Now that would be something to see.
As for finding the right director, if we can find one on the forums that comes up with something that many people feel would work then I'd have more faith that the movies producers will also find someone akin to actually accomplishing bringing Eva to life.
Since no one else has taken a serious pot shot at accomplishing this (outside of making it virtual and another anime type form) I shall try to.. sock bashings and opinions are welcome of what you think about it. If you think you can do better you are welcome to try

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Alright, here's my overview of how the Eva Live action movie could be accomplished without dishonouring.
First off I wouldn't do the whole series, I'd throw hints here and there about something bigger happening in the background but never tell the viewer what that is. Secondly, I would keep the entire cast of the anime, and have there relationships be the prime focus of the story. Third, I would backpeddle many of the fight scenes with the angels but make them quick and cool, not drawn out like the matrix reloaded (. The biggest battles being with the third, fifth, seventh, and eighth angels. Fourth, most of what happened between Eps 1-11 that have to deal with charecterization would be left in, and maybe somethings expanded upon (ie taken from later eps in the series) which is why I'm going to talk mainly about the battles. Fifth, the movie would end on episode 11
Taking in account all the episodes leading up to ep 11 here is how I would make the cuts and merges. Eps 4, and 5 would be overlapping eatchother for time restraints. Ep 7 being would be annexed and ignored. It basically had nothing to do with much in the series besides making Misato think somethings being kept from her and that can be shown in a majority of different ways. Ep 8 would be a side story of sorts. Besides the comedic value there wouldn't be much missing. I think Asuka could have taken care of the Angel herself without Shinji so that event could add to her ego when they first meet. Besides, do we need to see Every Angel die, can't we have a aftermath of sorts for at least one of them?
So I decided to end the movie on episode 11, why this one? Why the Magma Dive Episode? A few things of note.
I never did like that episode, I thought that the whole thing of captureing one alive should have been more of an event then it ever was in the anime. There was tension but it was still pretty light, I mean they did say something along the lines that this may cause the third impact if they don't capture it correctly. I was very disappointed when after all the fuss made over the angel very little was actually accomplished. Although if it was worked on a bit more I think this episode could do very well as a forshadowing tool for future movies if one was ever to be made, and it does come to a feel good conclusion which most audiances would prefer.
With a little more char development the movie could end with Shinji feeling more confident in himself (Or looking so) and the rest of the cast looking pretty sane (As not deeply emotionally disturbed). Forshadowing of the council of things to come but are of very little importance to the story as of now. Maybe some ramblings of what the angels really are and where they come from. This is to make the audiance believe that Nerv doesn't know what they are facing yet (When they do) but it is concluded that the attacks have ceased for now and our hero's Shinji, Asuka, and Misato fet a little vacation time. The End
There thats it, you think that would make a good live action Eva movie? I don't think I strayed to far from the source material, and I do think it concludes itself rather well before diving into the deep philosphical, cathilic, spritual, scientific, symbolisim dreanched, mumbo jumbo mindfuck we all associate NGE with... or at least many of us do

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Not perfect, but I think its close.