The discussion has come up several times, but more as a "vote which medium" kind of topic, and for the most part this site wants to see it as an anime. It does seem to fit the mold a bit better for these two reasons (in my mind): -Like Moogle said, the budget would have to be ENORMOUS or you would have to severely limit the world/quality of the world that has been built. Between the spren, Shardblades, Highstorms, and general Surgebinding, I think you'd use up an entire season's worth of CGI budget for the first episode (assuming it is Szeth's experience at the start of WoK + intro to each character). I think magic is just too big a part of the world to be so limited, you know? But I guess all it takes is one billionaire SA fan to produce the show...
-I think that the actors have incredibly specific personalities. I haven't brought it up before, but I think that you'd have to really nail these characters for their natural charisma to come across on screen. It's less of a problem than budget, but it is something that I think is very subtly significant. You could make a case that this is true for all acting, but I think there is something to be said for characters that are meant to have direct links to certain attributes. It needs to be conveyed in a way that isn't over the top but is always true to their nature. Tough job! All that said, I would love to see SA as a TV show. To me there is something more magnificent in perceiving a real human body to be doing something than an animated character (however much I love anime). When I imagine the scenes as I read, it's never in an anime style, you know? But that is preference, not what would actually be best for the story.
PS I just kind of realized you can't do the Heralds scene at the start of WoK without revealing their faces and voices unless you throw their helmets on the whole time. It would be interesting to see how that turns out without being too revealing. There is supposed to be some mystery behind who they are, which occurs naturally as a book and much less so if you can see them.