I was unlucky enough to encounter this film during my study of the Shakespeare play. This was not a bit of 'fun' on the side of coursework, but a horrible, horrible, horrible, horrible experience.
One could argue that the modern, and considerably seedy, settings make an artistic statement; this could also be applied to the use of the same actor for the roles of Orlando and Oliver. I think not. It is illustrative of the resounding fact that this film is terrible, it had a low budget, it had rubbish actors (ignoring James Fox, which I really do not understand...), and that the director had absolutely no insight into the themes and issues the play brings to light.
Do not, do not, do not buy this film. A class of teenagers, yearning to avoid working in English, begged their English teacher to turn this film off. Even he, a man who has rather individual taste, thought it resembled something close to a turd.
This film offers nothing if you wish to be more 'cultured', learn about the play from a different perspective, or just generally watch a good film.
I hope I have sufficiently conveyed how dire this film is.