Like Watchmen, I feel that Sandman is meant to be experienced as a comic book and really doesn't lend itself well to other mediums.
But bottom line, I don't trust anyone in Hollywood to do the series justice.
Hell, I even remember one point when one of the movie scripts had an excerpt released and actually contained the line "Those who know fear will tremble before the guns of the Sandman!".
Whoever had written the script had seriously confused the character with The Crow.
They should've tried Y: The Last Man as a TV show - that book would make and excellent weekly series! But nooooo, they've gotta do movies which will probably suck...