Here’s a great article about why it’s impossible to capture The Great Gatsby on film:
“Fitzgerald uses bright shocks of colour and vivid juxtapositions to create impressions, not facts. Gatsby's greatness is measured by the intensity of his dreams, which provide him a "satisfactory hint of the unreality of reality". Try filming that.”
Read more. (Thanks to Susan S. for the link.)
Even though it’s impossible, director Baz Luhrmann is going to give it the old college try. Leonardo DiCaprio will play Gatsby and Toby Maguire has been cast as Nick (isn't he maybe a little old for that part?). And this just in, after a long search, Carey Mulligan will be playing Daisy, though to me she seems to be cast to play Mia Farrow, not Daisy. Oh, well…I’ll probably still go—but mostly for the popcorn and to admire the 1920s clothing and cars.