I'm glad there are some other Tolkien fans here...sometimes I just get the itch to talk about Tolkien. I agree that the movie is very, very well done. The behind the scenes stuff on the DVD just reinforces that. But the books are exponentially better than any movie could be.
Someone mentioned that they thought that Arwen's (Liv Tyler) role was expanded too much from the book. I agree, a little bit. Professor Tolkien mentioned in a letter that the story of Arwen & Aragorn, which apears in the apendicies, was important to the main story but just did not fit into the narative. Arwen should have a bigger role in the book so PJ gave her a bigger role in the movie. Although I don't think she needed to be doing things that other characters were doing in the book (riding with Frodo).
I'd better stop before I ramble on for pages & pages about my love of Tolkien's work.
If there is anything the nonconformist hates worse than a conformist, it's another nonconformist who doesn't conform to the prevailing standard of nonconformity.