I mentioned Psychonauts earlier, which is a similar kind of idea, but nobody picked up on it.
I think it depends. If it's a straight run-through-the-film job, it'll be in the Psychonauts/Zelda style and likely rubbish.
If it has more work put into it, it could be a good first or third person free-roaming RPG, with all the numbers hidden away, a la Morrowind/Oblivion, with you playing as a magician, or a similar idea, but with you as a spirit, under the command of a magician, but able to do sidequests and so on while out on missions, as long as you get back in time.
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