Denny Colt will be on the big screen sometime soon, a Christmas present to all Will Eisner fans. (see the poster at www.imdb.com/media/rm761829120/tt0831887) And, according to the IMDB, the proper title in the US will be Will Eisner's the Spirit.
But, the 1987 movie Don mentioned in the 7/31/08 "Today in Toons," was not a "theatrical" release-at least not in the US. According to the IMDB it was a "made for TV" movie, and, possibly a (failed) pilot for a Spirit TV series.

BTW Don, I've noticed that Warner, through DC, has published Will Eisner Spirit material, and, some new material based on Eisner's work by one of their writers and artists. But the movie is through Lionsgate. Can I presume that Eisner's estate controls the rights to the Spirit, and, other such material, and, so has licensed Warner and Lionsgate?