First, and formost, the guy that did Smeagel (aka Gollum) deserves an award. There is no doubt about how perfectly he portraited the part.
The actress that played Eowyn is a hottie (had to throw that in). I'd even say she'd be a better "geek" fantasy than natalie portman.
And finally, the only thing that rubbed me the wrong way (except ending where it did ) was Faramir. The whole elf sequence was fine, even though it wasn't in the story. The "falling into the river after the warg battle" was fine by me. The only thing that really got to me was the portrail of Faramir. In the book, Faramir was very smart and clever. He was the one supposed to go to the Fellowship instead of his brother Boromir, but Boromir was too headstrong and stubborn and insisted on going. Faramir knew about the ring, but also knew the graveness that it possessed. Once he knew Frodo had it, he wanted nothing to do with it (WTF? Forcing them to go back to Gondor? Its exactly the OPPOSITE of what happened in the book). Anyway, I just thought that part was poorly done.
Don't get me wrong. The writing of the script follows the book better than any other rescripting of a book. He even uses direct lines throughout the movie. I just thought that the portail of Faramir was a bit off, but it didn't make the movie any less magical.
: Where they should have ended the movie. If you haven't read The Two Towers book, don't read this. It'll be plot twists from the "Return of the King" movie!! However, I generalized it to not give anything major away, just a little tease of what's to come.
They should have ended the movie when the one hobbit starts walking away after the incident with Shelob. That would be enough emotion to get the audience to start reading the books to see what happens next >:-)