at first when i saw this thread, i thought perhaps it wouldn't be a good idea but this is based purely on the fact that story was sometimes far too complex to be translated into a film, i mean honestly some of their story arcs were just amazing.
however if we are going to base it on the first arc and tell the old story how they were betrayed by humans and the curse and how xanatos brings them back, it would potentially make a really good film just over 2 hrs in length.
if marketed correctly and brought out around halloween, this cuold be as big a phenomenon as perhaps harry potter is.