I don't care much about watching the same story twice.
So my favorite anime becoming live action would not mean much to me.
At worst I'd be worried that the live action version would be horrible and paint my fav in a bad light.
Also usually my fav is in that spot because of certain characters I really like. A remake, in whatever form, is unlikely to reproduce that feeling.
However, if the live action would be the second season to an anime I like, I'd probably watch it just like I would with another animated season.