didn't see McKellen's Richard III but it is one the best Shakespearian plays–
I loved it-- (even though i didn't understand half of it) the first time i saw it- (still in my teen).

I also Loved Looking for Richard-- though not everyone did http://movie-reviews.colossus.net/movies/l/looking.html

Richard the third is like chocolate cake-- its hard, if one follows basic rules to make a bad one-- and so too, unless one really messes with the play (i think of the movie the Good Bye Girl--with a play R3*-inside the story--)it hard to have a bad Richard III-- some are decidedly better than others-- but even a bad one is still pretty good.

It's the story of lust for power--and failure.. a great human story.

(in the Goodbye Girl-- the open, flaming homosexual director has a (very young!) Richard Dreyfus play RIII as an open flaming homosexual-- no hump, no stutter, no deformity-- except for a falsetto and a lisp! It almost as funny as "Springtime for Hitler and Germany"--from The Producers)