NO.
Anyone who has actually read the book, The Golden Compass (Northern Lights here in the UK) will tell you how unbelievably bad the film is in comparison. They gave all the Oxfordians plummy accents despite their rough accents being clearly decribed within the book, they made Lyra and Roger's relationship thin and shabby, they thought that getting Daniel Craig to do Lord Asriel would be enough, but he didn't match the character enough. Nicole Kidman looks nothing like the Mrs Coulter described in the books. (At least, how the books let me imagine her). The Golden Monkey was not vicious enough. Large parts of the plot were cut out inexplicably and detracted from the arc of the storyline. Iorek Byrnison was given GOLD armour. GOLD! It's explicitly stated in the books that bears only use sky-iron for armour, apart from Iofur Raknison, who does wear gold but only because he has been corrupted by Mrs Coulter to wear it. As I remember, the bear-daemon part was cut from this part of the film too, as was the battle finale, in which Iorek Byrnison reveals that his injury had been mimed and actually rips Iofur Raknison's lower jaw off. Also, as I remember, the ending from the book of Roger's death and separation from his daemon causing a huge energy spike that rips open the pathway to the world of Cittagazze and ultimately leads the way to the beginning of the second book, was cut - I can't clearly remember as I could not bear to watch all the way to the end. Plus, most of the religious connotations were removed from the film due to their controversial role within the books, meaning the General Oblation Board's motives were thin and unbelievable.
It was terrible and I will not hear a good word for it.
(Oh, but they got Stelmarina spot on. Y'know, apart from the fact that she was SUPPOSED to kill Roger's daemon at the end but, y'know.)