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I like:
Natalie Portman as Egwene
Liv Tyler as Lanfear
Jehnny Depp as Matrim Cauthon
Gerard Butler as Rahvin
Orlando Bloom as Perrin...

padan fain would have to be played by Jim carey. he could do it very well... Eternal Sunshine of the spotless mind proved that

why not cast Jim Carey as mat, he's the comic relief guy, ain't he?

I dunno...I can see him more as Gawyn. And I also changed my mind about one. Liv Tyler would make a much better Nynaeve. Angelina Jolie would be a better Lanfear. (I was waching Mr&Mrs Smith when I realized this)

I would pick Johnny for Padan, but I don't think he is slimy enough. Johnny is more twisted and quirky, where as Padan is more insane and greasy. I think that he has outgrown Mat. I do think that he should play one of the evil people though. Jim would probubly be better for Padan.
I think that Liv looks like a Lanfear, but is too nice for the role. She just wouldn't fit. If she could be mean enough, I would give her an award no doubt. I think she would be a great asset to the movie, I just can't think of a character for her. I think that for Lanfear, Angelina would be good, if a little over-used. You need someone with a sexy appeal, but who can still be evil and original.
I think that Kimberly Williams would be great for Minn or Edgwene. Probubly Minn.
Ian would be great for Thom.
I think that Orlando would be too over-used for Perrin. Not buff or sincere enough.
I think Jim is too old for Mat. That is what is challenging about Mat, you need someone like one of the old comedic Greats, but you need him to be young and fresh.
Natalie has the innocence for Edgwene, but I think Edgwene needs a rounder face, plus she needs to be more of a determined innocent. (I am super picky if you can't already tell.)
Elijah would be great for Wil, good idea.
Perrin would be best played by my friend Jon. lol. Too bad he isn't an actor, he looks just like him but younger. For Perrin you need a guy that is soft-spoken but has a rumbling voice when he does talk, someone who is protective with curly brown hair. lol.
David Spade with dark hair for Padan? I dunno. It just popped into my head.
Someone dark, mysterious, and attractive for Ishy, right? Who is like that?
OOHHH!!!! Cillian Murphy (Scarecrow from Batman Begins) would be great for a role! He has this creepy, penetrating, yet very attractive air about him that would be perfect. I am trying to place who he would play, it is on the tip of my tongue.
Ioan Gruffud would be good for one of the loyal soldiers, he looks Saldean.
Gerard for Rahvin is a great idea!
Uma for Nynaeve is fabulous.
Christian Bale would be good for a minor yet profound role. I think he would make a pretty good Rand, but with his role as Batman, it would make the character way too over-used.
Liam Neeson would be good for someone, maybe one of the Forsaken.
Rutger Hauer could play someone deranged.
Linus Roache might be good as a side character.
You need someone very cute for Gawyn, cute but tough. I am super excited about Galad. lol. That'll be someone very nice to look at. XP Cillian would be good if he dyed his hair black.

Well, that was really long. lol. I'll try and think of more later. Give me some feed back!!!

Ya, he would be good for Tam.

Ewan might be good, but I don't think he is innocent or young enough. He has the pining love thing down, but that is about it.
Jensen Ackles might be good for someone, Rand or Gawyn maybe.
Zach Braff might make a pretty good Mat.

I just don't think he fits, but that is just my opinion.
Seriously, check out Jensen on Google real quick. He looks a bit like Rand in the facial features (at least how I picture him.)