I'm somewhat relieved that, unlike with Harry Potter, that I'm maintaining my 'eh'-ness about it. I know people will want to beat me for this, but my general opinion so far is: It's a good way to kill an evening I have nothing else to do with. My biggest issue with it is that it's very, very, very, very long and slow. An hour and a half in, and the fellowship just got together.
It does have some cool effects. The horses-water/flood part was cool as heck. I love the black horses to death.
Chia and others lust over Legolas; I'm just totally, 100%-ly not seeing that. He's a pretty boy, he does nothing for me. Sorry, girls. :) Aragorn is a lot closer to doing it for me, especially when he came charging back after the idiot hobbits lit a /fire/ while trying to /hide/ at /night/. (Idiots.) I missed who the other human is with the party (B-something), but he's pretty cute, too.
Two hours in: These damned hobbits are making more trouble for the party than the bad guys. They'd be smart to just kill them all off and go on alone (except Frodo, who seems to have a knack for getting himself killed). Sheesh. Yes, let's touch the skeletons and knock it into the well and bring the bad guys running. Ever so smart of you, sir.
Ending: Arg! That's not an ending! You can't end a movie without an ending! Bah. The second half was better than the first by a lot. They should have cut the first hour off the movie and it would have been a lot better.
Aragorn is one sexy man, yes yes.
And I hate to admit it, but the idiot hobbits sort of grew on me.
And I hate to admit it, but now I sort of want to see the second part. Bah. :P