In that respect, this update from Ain't It Cool News is heartening. Apparently, according to their tipster, Boorman really does have a vision that's serious and that sticks to the novel -- down to the little-known fact that Tin Man is diminutive in stature. They also have some fantastic-looking concept art, with a scarecrow that looks like a scarecrow and a witch's castle that's just a wonderful, timeless image.
So now this is making a bit more sense to me: The Wizard of Oz as straightforward, classic fairy tale. I've put a couple of the images below the fold here, but you're going to have to visit Ain't It Cool News for the rest.