I’m going to second the recommendation that choie check out the extended Two Towers. I agree that it adds a lot more “value” than extended Fellowship.
Fellowship was my favorite film overall.
TTT improved the most going from Theatrical to Extended
RotK was the best theatrical version (also, least improved Extended edition. Certain bits that went back in really should not have.)
Also to hit some highlights:
Gandalf is awesome.
Andy Serkis and the special effects team did mega good work with Gollum/Smeagol.
Sauruman (and Sauron, really) is fairly complex in his motivations, really, but the book (and therefore the films) is not -about- him, so it’s not really gone into. Suffice to say that, yes, he/they want to rule the world. The…er…excessive slaughter is a problem with the film.
Similarly, some complexity in the “Good guys” is lost in the film, but this -is- intended to be a Myth, not some work of gritty modern fiction with conflicted heroes who debate whether they should save the world when they’d rather be off banging elf chicks or something.
Eowyn falls for Book Aragorn because, basically, he glows with an aura of kingly awesome. No, really, I’m not making this up, though it’s not quite literally glowing. He really -does-, when he lets himself, carry about himself a sense of “I am one of the Kings of Numenor, and that makes me a badass.” This is rather absent from film Aragorn. Anyway, it’s really just a crush, and she gets over it.
The scene with Sam and Frodo discussing tales and things is from the book (RotK technically, I believe), but doesn’t happen in the same place as it does in the film since, er, the place it happens in the film isn’t in the books at all. (I mean, Osgiliath does -exist- in the books, but Frodo and Sam never go there.) I did find it a little bit too weepy, but I was too busy being cranky at Jackson’s rendition of Faramir to care. Smeagol’s reaction to that scene, at least, is really moving.
#1: The whole deal with Faramir makes no sense to me in the movie, so I will not attempt to explain it. Though “how does Faramir know Boromir is dead” is in fact answered in the extended edition. He sees the boat with Boromir in it.
#2: It’s The Law. Faramir, as a captain of Gondor, will forfeit his life if he chooses a course that proves ill for the city he is sworn to defend.
#3: I think the extended edition does a bit of a better job of indicating that it’s Eomer’s folks who clobber the orcs who had Merry & Pippin captive. There were, as mentioned, a few casualties.
#7: This is another bit that really doesn’t make sense in the film, because you’re not really given any indication of what all the situation is in Rohan. But they’ve been fighting a war with Sauruman for months, and have a lot of men in the field. They recently suffered a defeat that left a lot of those troops scattered all over the place. Also, what really defeats the orcs is the “OMGWTFWE’RESURROUNDEDBYEVILTREES!RUNAWAY!” factor, not the rescuing army, which would, honestly, have had a serious hard time otherwise.