Prunella Scales and Judy Davis as Mistresses Page and Ford (respectively) are especially good, but nearly all the other members of the cast -- ranging from Richard Griffiths as Falstaff to Elizabeth Spriggs as Mistress Quickly -- are also highly commendable. The one exception, surprisingly, is Ben Kingsley as Ford. To be sure, anyone playing the role of Ford has to go over the top occasionally. However, Kingsley is annoyingly histrionic in the pejorative sense of the term; his high-strung mannerisms and his falsetto utterances become quite tiresome. His performance is not unalloyedly woeful, but it is well below the level of the other performances.
A few of the other reviewers on this site have criticized Richard Griffiths for his portrayal of Falstaff, but Griffiths aptly captures the nature of Falstaff in "Merry Wives" -- a play that presents Falstaff as a somewhat less shrewd character than the Falstaff of the Henry IV plays. Moreover, the girth of Griffiths made him more suitable for the role than was Anthony Quayle in the BBC's Henry IV productions (though Quayle's excellent acting compensated for his physical unsuitability).
Apart from Ben Kingsley's performance, the main objectionable feature of this otherwise admirable production is that a few scenes and smaller portions of the play are rearranged. The rearrangements aren't damaging, but they strike me as pointless. (Much the same can be said about the handful of small excisions of Shakespeare's lines.) All in all, I can recommend this production heartily to anyone who wants to experience the charms of Shakespeare's play.
ADDENDUM: Having now watched this production three more times, I feel that my remarks about Ben Kingsley's performance are too strongly negative. Most of his acting is in fact very good -- as one would expect from such a virtuoso Shakespearean thespian. Only at a few brief junctures does he become annoyingly histrionic with his high-pitched utterances or excessive gesticulations. I'll leave my original remarks unmodified, to indicate how someone might respond to Kingsley's performance after only a few viewings. However, my assessment of that performance is now significantly more favorable.