I watched both versions, this one from 1984 and Tyrone Powers' version from 1946. Of course, I also read the book.
Neither does justice to the novel. Both are patchworks without links throwing the viewer into confusion about what is going on. Characters are shallow and Bill Murray's version of Larry was downright insulting--with his constant smirk and ill-placed humor. Also, do not know why, except for avoiding copyright issues, why Murray is cast as an ambulance core person as opposed to the aviator in the novel.
I hope someone makes a new version according full justice to the novel. The only way to film this great story is with Maugham as a narrator linking the patches as well as appearing in some scenes.