I love the movie so much. I actually think that the portions of it which are specifically adapting the book (maybe a quarter of the film if that) are the best film adaptation I can imagine; Greenaway films several of the lists, and I don't think most directors would. The life of the main character of the film, who is trying to write her own pillow book, reflects and comments on Shônagon's in some very interesting ways-- they're both scandalous, fashionable, wrapped in familial status issues, but they have different options available to them and different allowable modes of sexuality.

I do not find the film disturbing, and I don't understand why other people do, but apparently they mostly do, and I get told fairly frequently that it's really weird of me not to find it disturbing, so your mileage may vary. I think it's well worth watching, especially if you are at all interested in calligraphy, because the calligraphy is amazing. Also it has a very good soundtrack. It's high up in my short list of favorite movies.