I'm a sci-fi nerd, and I really wish that someone would make a WOTW movie set in 1902, as it was originally. However, every adaptation is pretty good, even (and especially) the prog album by Jeff Wayne. Laugh if you want to.
As for the Spielberg Tom Cruise version, I think it succeds on every level. Cruise is great, and Spielberg's vision is close to the source material.