Have you already assumed that films based on books are rarely loyal to the original pieces? I bet you had. But even expecting Robert Zemeckis' Beowulf movie not to be the exception wouldn't do much to prevent you from horrifying at the finding of such a butchery as can be seen in the epic poem 21st century Hollywood version.
Let's just put three major points into consideration:
1. Epic poems main characteristic is the presence of a hero. If you've read the book, you probably got a good idea of how an epic hero of around the 10th century was to behave... Now, what's so heroic about a man who - because of weakness - conceives his own assassination with the monster whose child is killing every 'good guy' around? That doesn't sound like good old Beowulf...
2. The same goes for the respected King Rothgar. In the movie, he's said to have been through the same situation than Beowulf's, conceiving a menace with exactly the same monster years ago! How ironic; heroes were supposed to be extremely difficult to kill, and now somebody has managed to destroy two of them in ten minutes of film...
3. Remember Grendel? That awful, bloody demon which terrified Rothgar's kingdom? And do you remember Grendel's mother? Probably twice as fierce and awful than her son? Well, 2008 Hollywood Grendel's mother is... Angelina Jolie! I don't know you, but I don't think words such as 'monstrosity' and 'Angelina Jolie' can be placed in a same sentence without breaking any moral rule...
Perhaps we should be open-minded and expect remakes to be more like reinterpretations? After all, it seems interesting to see how different societies reinterpret classics such as Beowulf across time, through completely different viewpoints...
PS: if you still want to see the film, I've got a copy at home ready to be lent. It's got a really neat animation!
PS2: Beowulf's not there, though...