Fortunately, I stumbled upon this film airing early one morning on TCM. Bette Davis is quite wonderful, and contrary to what some posters have stated, she actually underplays what could have been an hilarious, scenery-chewing role. DeHavilland is, likewise, outstanding as the initially timid individual, who must cope with the devastating actions of her selfish sister.
Supporting performances are directed well by Houston, with young Ernest Anderson standing out as the wrongly accused black man. It is disappointing that the remainder of his career consisted mainly of parts such as waiters, doormen, porters, etc.
Max Steiner's score is a bit overpowering at times, but he was at the top of his game in the early 40s. The Warner back lot works effectively as Virginia, and the absence of fake/forced Southern accents actually lends credibility to the performances.
As others have stated, I will now seek out the original source material, especially after having learned of its honors. I am curious as to the source of a previous claim that the film was a critical and financial bomb on release.