Brian Yuzna's Necronomicon features a wraparound in which Jeffrey Combs portrays H.P. Lovecraft, circa 1932. Prosthetic makeup, in combination with Comb's naturally high voice, results in what is probably the best portrayal of H.P.L. we're likely to see. However, those familiar with Lovecraft's life will be amused (or perhaps annoyed) to see him depicted as an occult believer/action hero who gains access to a copy of the Necronomicon through subterfuge. A somewhat similar liberty was taken by novelists Robert Shea and Robert Anton Wilson in their 'Illuminatus' trilogy; and, of course, Robert Bloch based a character in 'Shambler From The Stars' on Lovecraft. (With H.P.L's permission, however.)
Necronomicon is a melange of Lovecraftian characters, stories, and themes. The Deep Ones, Cthulhu, the strange high house in the mist at Kingsport Head and, of course, the dreaded Necronomicon itself are all reasonably well treated. H.P.L.'s short story 'Cool Air' provided some inspiration for one of the film's segments.
Lovecraft's stories - notoriously short on dialog and female characters - do not easily lend themselves to direct cinematic adaptation. Consequently, Brian Yuzna deserves credit for extracting many essential elements from the Mythos and presenting them in a way contemporary horror audiences can appreciate. Necronomicon may offer a bit too much gore for some tastes; but as far as I'm concerned, even loose adaptations of Lovecraft's work are better than none at all.