That film
The story's epic, the CG's magnificent (if not absolutely flawless - Legolas climbing up the Oliphaunt still looked too gamey), and the leads even remembered how to act again (don't tell me this is the same Elijah Wood as in The Two Towers, where even Treebeard made him look wooden).

Despite never having finished reading the book (yeah, I gave up halfway on my one and only attempt in my teens - go on, tell me I'm a bad man), so having nothing literary to judge the films by, I think Peter Jackson can be rather pleased with himself, don't you?