Saw the Lord of the Rings. I'm hearing a lot of good things about it from a lot of people. Not sure what I think. There were some wonderful parts, and the acting was, well, movie acting. They also mangled a number of characters really badly (Galadriel and everything to do with her, for instance -- ditto Boromir and a lot with Bilbo, plus Arwen and large amounts of Legolas and Gimli and Elrond, and come to think of it...) and a number of scenes (the "people in a circle of light" scene in Moria with all the scuttling nasties was just gratuitous). And they reinterpreted a number of the Tolkien legends in weird, weird ways. Isildur is constantly considered a symbol of weakness? He defeated Sauron and kept him down for the following 3,000 years, but of course Aragorn's scared he'll be weak like dear old Great-great-great-grampa Isildur. Isildur defeated Sauron in hand-to-hand combat. Whaddaya have to *do* to get some respect, you know?
Anyway. See it. But be prepared to heckle if you expect it to be roughly like the book. It's not.