Not the greatest films, but easily some of the most enjoyable, especially for a fantasy buff.
The reality is that despite any flaws they might have, the extended edition trilogy is just a wonderful piece of work. The action is great, the story is great, and the characters are almost all wonderfully recreated by their actor.
Above all, it's one of the only fantasy films ever that manages to throw an utterly ridiculous budget behind all the effects. It's the one movie where you can sit and watch Orcs, Elves, monsters, demons, ghosts, forests, wizardry, and great towers all rendered beautifully.
It's also got an art direction and score that is really quite second to none.
I think that even with all their flaws, you can tell the entire crew, from Jackson and the actors, to the audio department and props department, really poured all their love into crafting the film. It's so detailed and epic to even the smallest degree. They didn't want to make a cheesy blockbuster, or a rushed version of the books. They wanted to make an absolutely epic adventure that delivers on every front it can.
And I think it did, as said, especially with the Extended Editions. Watching the wealth of documentary footage in the EE just makes me believe this just as much, and stands as my number 1 documented film to date.
Oh, and fuck book to film comparisons. As someone who loves Tolkien's I think the films were very, very faithful, and I accept all changes they made. I gave up trying to compare the two long ago, as I feel people who continuously do just get caught in a mindset of expecting a movie that could never be.