I like Earth One, but the villain so boring and horribly designed, it's a huge sticking point. Replace him with Zod and his co-horts, which I imagine to be far more interesting, and that's a huge problem with EO fixed.
I know a lot of others don't like the graphic novel because Clark almost seems to resent having to save the day, as if he's being pushed into it. I think this has been changed for the film too. Goyer described him as an 'unabashed hero' , and we know Clark will be saving people from school buses and oil rig disasters before he becomes Superman. Remember his quote from the trailer. I suspect he's been wanting to use his powers all along, it's the world which isn't ready.
So perhaps what we have will be similiar in story to Earth One, but with some very important tonal differences?