Okay, so I am grounded in reality enough to know that Dr. Fate getting his own live-action, big screen movie is a tremendous long shot. However, with the Warner Brothers big wig's statements over the weekend saying that a large portion of WB movies will be based on DC comics characters, I can't help but fantasize about what a Dr. Fate movie would be like.
If it was me planning out the movie, I would base it on Golden's 5-part miniseries of the early 2000's. I think that miniseries works perfectly as a one-shot story for Dr. Fate and is very representative of the Dr. Fate character. However, I would not have Hector Hall play the main character. Hector can easily be replaced for Kent Nelson, or even Khalid if DC and WB wanted more of a new 52 approach. The story also doesn't have to explain how Dr. Fate became Dr. Fate, we know that he is a neophyte hero who is learning his way through his powers (something that has been a recurring theme ever since Kent Nelson left the Helm).
The Golden miniseries is dark and reads very cinematically. When reading the story I can almost see it as a movie. What is great about the story is that Dr. Fate would be the sole hero in the movie but there can be some cameos from other heroes such as the Phantom Stranger and JSA making it an interconnected movie universe acknowledging the existence of other super heroes. If they choose to go with Kent Nelson as the person under the Helm they can tweak the love interest so that it is Inza instead of a local cafe waitress and if they choose Khalid they can leave the love interest as is.
With regards to casting, I really don't have a favorite for the role. I would just want a good actor to portray the doctor. Someone that would do the character justice. However, since Dr. Fate getting his own live action movie is the longest of long shots, I do have my fingers crossed that he will at least have a small part in Guillermo DelToro's Justice League Dark movie. Till then, all us Dr. Fate fans can just continue to dream about a Dr. Fate film and be thankful that we at least got to see him in Smallville's Absolute Justice episodes and Axel Braun's Man of Steel parody.