Although I think this is an excellent version of Hamlet, Olivier's performance as the eponymous character is a tour de force, and the period setting and authentic Danish location are good to see in this age of Brechtian alienation, there is a gripe I'd like to share. Way, way too much of the script (which I genuinely consider to be the greatest ever written) has been butchered for the screenplay, which is quite common in adaptations of Shakespeare, but unnecessary as Branagh adeptly showed, even if it does take four hours to play. Furthermore, script editors for film versions of Shakespeare universally seem to work on the assumption that the only important elements of the script are those that relate directly to the plot and famous passages, but that eliminates some great poetry, and ultimately forsakes the gothic exuberance of Shakespeare. This edit of Hamlet leaves Olivier with the vast majority of the airtime, at the expense of all of the other characters. For that reason it comes second best to Kenneth Branagh's full length adaptation of Hamlet, in my humble opinion, though not for that reason alone, as I also think Branagh interpreted the character of Hamlet more skillfully, naturally, and enjoyably. Aside from that, Olivier's version of Hamlet has to be seen - it is a landmark and all that.
As for Henry V, I think this is the definitive version. Unlike Hamlet, it is filmed in Technicolor, and very pretty it is too. The first act of this adaptation is set in the Globe, and is a very interesting portrayal of the players, audience and sights and sounds of the legendary theatre. At first I thought this would be strange and alienating, but it really worked incredibly effectively and is very original. As soon as Olivier regally marches onto the stage, he dominates proceedings. It is an absolutely virtuoso performance from beginning to end, and rousing to watch. When the action switches to the period setting, the play really draws the viewer in. The sets are quite spectacular for the time, and evoke nostalgia for the days before CGI, when more artistry and effort were required to produce the desired effect. The costumes are magnificent and authentic, and the battle scenes are quite enthralling too. All in all, a better production of Henry V will probably never be seen on film. This adaptation is especially poingant as it was filmed during the War, and this timing was intentional. It was intended as a patriotic warcry, as Henry V was, of course, a great English patriot, and the victory against the odds at Agincourt was one of England's finest moments. The British army invaded France not long after this production, and although the enemy was different, the proud and courageous actions of old Blighty's soldiers was and always will be the same.