Heh... sadly, because porn movies don't go in for such luxuries as high-grade animatronics or CGI... we're limited to gussied-up rubber hoses.
So, really, Soft on Demand's stuff is about as good as it gets.
The first live-action La Blue Girl's (Inju Gakuen) pretty good, mostly due to their minimalist approach to the actual tentacles. The live-action Angel of Darkness (Inju Kyoushi) series is also okay sex-wise, and as an added plus, has actual plotlines.
I've heard bad things about the live-action Taimanin Asagi movie - mostly that they tried to emulate the tongue-lolling/eye-rolling facial expressions of the anime, and failed miserably.
This thread is our local live-action discussion, while this