Or 'The Golden Compass' as it seems to be called (probably only in the US).
Anyway, I just watched the five minute (!) trailer they have at http://www.davestrailerpage.co.uk and it looks pretty good.
The daemons look a bit rubbish, though in terms of animation. Rather weirdly there seems to be no suggestion in IMDB they'll be doing any of the other books.
Given Nicole Kidman always looks like a bunny boiling psycho who'd kill you while smiling she seems a good choice to play Coulter. Anyway, doesn't look like they've changed the story much.