I'm really enjoying the Hobbit movies (in spite of them being thoroughly "Jacksoned") but I can't stand the LOTR movies. Peter Jackson is the film making equivalent of Robert Jordan.
Now, the LOTR books are a long, slow read, so on some level, I can respect PJ making ridiculously long films about them, but they are long, slow films. The Hobbit films so far have been much faster paced, which is good, however once again, the second film deviates significantly from the book. Also, separating a fairly short novel that is essentially a fairy tale into a 3 film epic fantasy damages the story.
PJ can definitely film a detailed and beautiful fantasy world, but unfortunately, he does it at the expense of entertainment.