A stunning visual masterpiece...

Rating: 10/10 (21 December 2001)

...but lacking on character development that is SO very important in the written work. I may go see it again in the theater.
The film itself was very well done. I'm extremely biased, having read the Lord of the Rings saga at least ten times, so perhaps I'm somewhat TOO discerning a viewer. I thought the physical appearance and CGI work involved in the landscapes, special effects, and visual representations of particular locations were amazing and will be award material. The character portrayal by actors was equally as wonderful, although I don't see any standout award possibilities. These two pieces alone make the movie a must-see on the big screen.
However, the depth and complexity of human characters so intricately laid out by Tolkien in the books is missing somewhere. Granted, that may be hard to achieve in a 3-hour movie, but even simple plot elements that in themselves offer character development are lacking, i.e.: Merry and Pippin's CONSCIOUS decision to join the Fellowship adventure, Frodo's flight to the ford and stand against the Nine ALONE upon Glorfindel's horse, Gimli's change of heart because of Galadriel in Lothlorien, the inner but NOBLE turmoil of Boromir. I also think the character and activities of Saruman were stressed too greatly, considering that their consequences are not a focal point until The Two Towers. Knowledgeable readers will notice these subtleties, and those who have never read the books won't completely understand everything that needs knowing.
I read somewhere that Peter Jackson's goal was not to reproduce the Lord of the Rings epic exactly on screen, but rather to make it into a sweeping visual experience, and that an ancillary goal was to encourage people to take up the challenge of reading the books. I believe he has achieved these goals, and the result is a movie definitely worth seeing. I only hope that those who DO choose to read the books will not shy away from seeing the remaining two installments because of the subtle changes in the first.
Thus I can only give it 9 of 10, as a great film that was ALMOST there. I commend Peter Jackson on taking the risk, and on achieving much success with this first installment. I certainly will be in the theater on opening night for The Two Towers.