I own the complete the collection of BBC Shakespearean productions (imported), of which this is a part. I have seen a number of other productions of Hamlet (both on film and on stage). None match this one.
The closest that any other comes is Kenneth Branagh's production. Branagh is to be lauded for including the full text. His version also includes excellent production values. As for Branagh's portrayal of Hamlet himself, I can only give it 4 stars rather than the 5 that I would give to Jacobi's. Branagh does a fine job, but any portrayal of Hamlet must grapple with the emotional subtext of the role. Branagh performs admirably, while Jacobi performs superbly.
A comparison of theatre performances would not really benefit many (and I am too young to have seen productions featuring some of the great British actors in their prime). As far as notable screen performances go, I would rank them as such: Jacobi>Branagh>Kline>Gibson>Olivier. Yes, I know, 'tis blasphemy to rank Olivier at the bottom of that pile, but I just feel that Olivier's performance in the film is extremely stilted and overly choreographed. It very well may be that Olivier was remarkable as Hamlet on stage, but sadly, I have never seen any such performance.
Jacobi brings emotion and believability to a role that, in the wrong hands or if improperly directed, can seem wooden or artificially forced. This is a Hamlet that you can relate to.
Bottom line: to any fan of Hamlet, this would be highly recommended. I'd even go so far as to say that it has the potential to snare a few who are not Shakespeare fans. Production values are adequate (although nowhere near the Branagh production or even the Gibson production). All that being said, if production values and spectacle are what you crave, you're probably not browsing Shakespearean films anyway.