Persoanlly, I think the movie was great. I thought it would be mindless action with too many CG stuff, but I was wrong. It was pure Jackson style. Yes, there was a lot of computer stuff but it was done very well (best FX I've seen this year). It had the action, but also romance and it was a tear-jerker.
I love Jack Black, so I might not be the right person to say this, but I think he was great and fit for the role. The Jimmy/Hayes plot line might not be the best one, I agree. But the movie has three hours worth of other plot lines and relationships so I didn't mind them that much. Personally, I loved the guy who played Baxter (the star of the movie they were making there). He was very fond of him self and very funny doing so.
I hate spiders, and any other living things without bones for that matter, just like Peter, so I wasn't at ease during the bug scene. But that doesn't mean I didn't like it. When the audience says "Ugh, that's disgusting" it doesn't necessarily mean the scene is bad. That was what it was meant to be. Disgusting and gory.
When kong was "skating" on that ice, I was also thinking that's gotta be one hell of an ice berg. But it was a nice scene, almost sad knowing how their relationship will end.
As for the end, when they were looking at each other for five minutes before Kong fell, maybe that was a bit too long, but I wouldn't mind that much if it weren't for two girls sitting next to me and making rather silly remarks about Kong's nose...
my rating is 4.5 out of 5, but since I've seen it only two days ago, I'm still excited about it so maybe 4 will be more accurate.