So I was cruising around on the ol' Google and I found this really promising look of a live action adaptation of the Saiyan Saga, made by a pair of brothers in the UK known as the Kirby Brothers, or K & K Productions.
Don't believe me? Watch this video, with Isky Fay, who is cast as Yamcha.
They have gathered cast members for Goku, Gohan, Chichi, Vegeta, Nappa, Piccolo, Krillin, Tien, Yamcha and more. They have people working on costumes and a crew for makeup and prosthetics (Their Piccolo looks pretty spot-on). All of the people they have cast as characters are trained martial artists, and if I am correct, they are all familiar with Dragon Ball Z too.
This definitely looks better than Evolution already. These two guys are putting a lot of effort into preparation, locations, costumes and special effects to really give it that Dragon Ball Z feel. I must admit, seeing the bit with Isky Fay as Yamcha I was pretty impressed. These guys seem to know what they're doing. They weren't impressed with Evolution either.
Here's a gallery of some of the cast members.