I bought this on DVD a few months ago purely on a whim - I liked the cover, I'd heard the story was quite sweet and CDJapan had a few copies of the limited edition left. I'm /so/ glad I did.
I've seen a lot of reviews claiming that without some sort of prior knowledge of the anime/manga, this movie isn't worth your time. I'm going to have to disagree, however, as I've seen neither, and found 'Honey and Clover' to be just so charming.
It's not a dramatic, flashy story - it's a gentle look at love and growing up with five of the most likable characters I've encountered in any film in recent times. I can see why some people would find it slow-paced, but I thought it was a lovely little glimpse into the lives of these characters (and given the nature of the film, I think it makes sense that the storyline meanders slowly through their lives, revealing little bits of them).
Visually, it's very attractive. Being set in an art school means there's plenty of wonderful scenes of paint splashing around on canvas, and everything about it is bright and fun to look at. The soundtrack is great - Yoko Kanno is so talented, I don't even have the words to gush annoyingly - and fits well.
I really enjoyed this film. I wouldn't say it's for everyone (I hesitate to use the words 'chick-flick' as 'Honey and Clover' is a lot more thoughtful than that, but I have trouble envisioning most guys watching and enjoying it) but watching it left me with a warm, nostalgic feeling inside. :)