My review on The Fellowship of the Ring (some spoilers).

Rating: 9/10 (28 December 2001)

The Film and screenplay: My congratulations to the team of writers (Frances Walsh, Phillipa Boyens and Peter Jackson) and the Director (Peter Jackson). They have taken a great story and adapted it to the screen very well, much better than some other movies that have been made from books. The overall flow of the story is very good, it does slow down a bit towards the middle, after the Council and before they enter Moria, but does pick back up.
I do not agree with some of the changes in the story, but I don't think they really detract, rather give a new look at the story itself. My biggest gripe by far is the change of the Elf who meets them on the road, that being Arwen instead of Glorfindel, but still it helps to give Arwen a bigger role in the story and feed in the love that exists between Aragorn and Arwen and their future together.
After just re-reading the first part of the trilogy before seeing the movie I was delighted to see quite a few direct quotes from the book's dialogue in the film. I always imagined Gandalf stooping at the windowsill and grabbing Sam by the scruff rather than hitting him on the head first, but it's still amusing none the less.
Pippin and Merry's roles are a little played up in the screenplay, rather than the emotional support they portray in the book. They did bring a humorous side to the screenplay that was not untoward. We will have to see how they are played in the future installments.
As has been stated in a few reviews, I am also disappointed in the introduction (rather abruptly, almost as if they were forgotten) of Gimli, Legolas and Borromir. It could have been explained easily with a few cut out scenes, Legolas in the hunt for Gollum after he escaped in Mirkwood. Borromir being sent by his father to ask about Narsil (the sword) and Gloin and Gimli being asked to come to Elrond to ask advice about Balin and his quest to retake Moria.
Overall I think there is almost enough explanation in the story line to help with people who have not had the chance to read the book and other accompanying texts from Middle Earth. My Fiancé enjoyed the film and there was very little that she did not understand (if anything), well done to the screen writers.
The Cast: What can I say? Ian McKellen is Gandalf, it is how I imagined him to be. A portly Sean Astin plays Sam to a tee; Elijah with his child like features portrays a young Frodo well. His acting ability brings the childlike feeling that the Big Folk have towards Hobbits into play. Merry and Pippin (Dominic Monaghan and Billy Boyd) are played perfectly for they're new chosen roles.
Sean Bean captures Borromir's character well, it's a shame the role never made it into the Two Towers as it was supposed to. Orlando Bloom looks such the part of a Sindan Elf; he plays the character very well. John Rhys-Davies (is that really him under all that hair?) plays a gruff dwarf well, but I think the character written for Gimli was a little older and angrier than he really was in the book.
Viggo Mortenson plays a very good Strider / Aragorn, he really does live up to song / poem written by Bilbo. Ian Holm plays Bilbo well, he really makes you believe he is the bumbling hobbit that Bilbo always was, ready for a good laugh and adventure (with a push). The scene when he goes to grab the ring back from Frodo is done so well.
Hugo Weaving, I think overplayed Elrond a bit, I never saw Elrond as that pretentious, maybe it was what was called for in the screenplay, actually all of the 'High' Elfs were pretentious, including Cate Blanchett as Galadriel, Marton Csokas as Celeborn and Craig Parker as Haldir. The scene where Frodo offers the ring to Galadriel is done well, I thought it a bit over the top at the time, but on re thinking about it (and talking to my Fiancé) it really does portray the evilness that the ring can bring out.
Unexpectedly, Liv Tyler portrayed a very good Arwen (well the new improved screenplay Arwen). Christopher Lee gave the timeless yet somehow tainted look that is Saruman the 'Colorful' as he should have been known.
The Effects: Whilst I really could not fault the visual effects (once or twice you could really notice the Computer Generated Images, like when the Nazgul was searching above the four hiding Hobbits) the Sound was a bit loud in certain places, I think that they need to realize that a scream will pierce to the very bone even when its not loud.
The Hobbits looked like Hobbits should, the Elfs and Dwarfs were also very well done, the size differences were perfect, and you'd swear that the actors who portrayed the Hobbits were only 4" tall!
Overall: I'd recommend this movie to anyone who likes a good story, who doesn't mind sitting in a chair for 3 hours, and especially to those that love the fantasy genre or Tolkien's works. I gave the Movie a 9 / 10 as I think that there were some small faults that did detract from an overall 10 in my views.
Whilst the story is different from that of the book, it has been changed in a way that does not harm the content. It still stays fairly true to the story (epic if you will) written by Tolkien. I'd like to know who the dialogue coach for speaking Quenta (elfish) was though.
Happy viewing.