OK, while miles ahead of the 1960s remake, ruined by an over-the-top performance by a very miscast Marlon Brando, this version still does not tell the true story of the HMS Bounty and its ill-fated voyage. (See James A. Michener's "Rascals in Paradise" for a historically accurate, but brief, picture of Bligh and the mutiny.) The movie stays close to the novel by Hall & Nordhoff and uses a fictious midshipman, Roger Byam, as the main character and we see both Christian and Bligh mostly through his eyes.
The acting by Gable and Laughton are, of course, excellent and the film shows the money spent by M-G-M wasn't wasted. The Bounty, itself, was a beautiful replica and the filming at sea--especially during storms--is hair-raising. In short, if you are after historically accurate drama--then this isn't your film, but if you want an entertaining, thrilling sea adventure from Hollywood's golden age--then by all means take a chance with this great picture.