I also saw Master and Commander on the weekend. I’m such a fan of the books that the relative lack of story didn’t bother me. I just lay back and sucked it all in. All the little quotes and in-jokes, from the two weevils to “not a moment to lose” to Killick and toasted cheese to Padeen to Awkward Davis to Joe Plaice’s brains. It was too short!
People who complain about the lack of action don’t realize that character and scene development are the defining features of the books, too. I remember giving up on the books as a teenager because there wasn’t enough action! But now the character development is most of the attraction.