I watched the 1932 movie version of the story a while ago and would not want to watch it again. It looked like what they used to call a B movie. In the old days theaters offered double features, plus cartoons and newsreels. The B movies were made on much lower budgets than the feature movies, but the B movies had some influence on world cinema. Both Francois Truffaut and Jean-Luc Godard were fans of American B movies. The so-called "noir" films were inspired by American B movies, which were often murder mysteries and used lots of shadows and dim lighting to create effects of suspense and danger. I can't remember the film version of The Most Dangerous Game very well, but it seems to me that the biggest difference between the story and the film was that Rainsford and Zaroff had a tremendous battle at the end of the film, whereas the original story ends cryptically and without violence. I don't believe the filmmakers could afford to travel on location to any island but had to fake all the island scenery indoors at the studio.
I am going to assume you mean the 1932 version of the movie The Most Dangerous Game. It is actually a pretty accurate remake of the short story written in 1924 in as much as the story's characters have similar names and the idea is the same- Rainsford is a hunter who becomes the hunted. The setting is pretty much the same as well. The major differences are that the movie version has the added element of the woman who becomes the prize maiden and part of the game when Rainsford takes her with him. The hunt takes place over the course of one night instead of three days and three nights like the story. Instead of being a General, Zaroff is a Count in the movie version as well. They did a fairly good job of casting people who resemble Connell's descriptions of the characters in the story, even Ivan seems to fit the role in the movie well.