I enjoyed the spectacle of Peter Jackson's Lord of the Rings trilogy, though I don't think The Two Towers or Return of the King impressed me quite to the degree that The Fellowship of the Ring managed. My main memory of leaving the cinema after Fellowship was thinking how great the Balrog had been, but Towers and King really just felt like More Of The Same; having read the books, the story was no surprise, and so all there really was left was the grand visuals (and Andy Serkis' phenomenal Gollum).
Enter the Hobbit.