Just was reading about this. There's no doubt there's compelling material for this, since Gloria Grahame's real life was no less lurid and melodramatic than the film noir outings that made her famous.
I loved her and Bogart in "In a Lonely Place", and she was fabulous in a triangle with Joan Crawford and Jack Palance in "Sudden Fear". And what about her memorable and poignant turn in "The Big Heat", in which Lee Marvin famously threw scalding coffee in her face. But there were so many others-- it seems that every film noir fan has his favorite Gloria Grahame movie.
Not many fans knew she was so insecure about her changing beauty over the years that she stuffed tissue paper under her upper lip and embarked on countless plastic surgeries on that feature which she thought was undermining her looks. It was heartbreaking.
But I have never been able to look at her the same way since learning she abused her 13 year old stepson Tony while married to husband/director Nicholas Ray. Many accounts of it refer to her "affair" with Tony (which later, creepily turned into a marriage) which to me is a way of minimizing her culpability in the act of abusing a minor in her charge.
Shades of Woody Allen, Roman Polanski, etc. I'm sure a wonderful actress like Annette Bening will bring off the portrayal magnificently, but the film for me will be tainted.