Those amazing white-on-white vistas would lose their majesty and grandeur if seen in a small screen. Yes, the film IS fantastic. It seems somewhat surreal than any species would risk and sacrifice so much to propagate, to prolong its existence. Seen from a certain angle (the one taken by Freeman's narration), March of the Penguins is the love story of the year.
It's documentaries like the masterpiece The Corporation, an investigation of the world's leading institution, that lose nothing when viewed at home.