There are good moments and the film is faithful to Greene's colonial despair (and any film which tries to look at the perils of interventionism in an intelligent way is to be applauded). Caine is miscast but Fraser impresses. As is often the case with this kind of film, the non-white perspective gets insufficient attention and Phuong's character remains too much of a cypher despite Hai Yen's sensitive portrayal.
Although I've read many Graham Greene books I haven't got round to The Quiet American yet so I can't say how faithful this is or whether it's inferior or superior but intuition says it's probably slightly inferior. Michael Caine is great but overall it seemed lacking in suspense. Enjoyable but not as intense as I was hoping it would be.