I went with a group - some read the book, some didn't (I did). While Harman Kaslow (producer) said the movie wouldn't follow the book exactly, he did quite a good job of capturing the pertinent parts of the story and making them come alive for today's audience.
The acting is excellent and the sets were quite good - the dystopian society was clearly felt. The story focuses little on the love story, mostly on the effects of progressive government intervention in business and the following adverse effects on society. The message was conveyed clearly and it did pick up the zingers and humor that Rand injected in her original tome.
This is Part II - Kaslow said we wouldn't need to see Part I to understand Part II and I found I agreed.
Ayn Rand said she wrote the book so it wouldn't become reality - you can judge if she got her wish.