I've now had more time to absorb the movie, and I've also had a chance to re-watch Two Towers. The biggest plus is that I am no longer doped up on cold medicine.
The movie may have been long, but it carried me through from start to denouement without much in the way of restlessness or exhaustion. Yes, some things from the book were altered or eliminated in the movie, but that is an inevitiblity when adapting a book for the screen. Many have complained that the Scouring of the Shire is left out of the movie entirely (it won't even be in the extended version), yet few complained about the loss of Tom Bombadil. it is important to remember that Peter Jackson had two challenges: to present a faithful account of Tolkien's story and to present an excellent film. It is quite often the case that what works quite well in a book is actually quite awkward when literally interpreted on the screen. Choices must be made, and I respect the choices that Jackson has made.
At this point, I have not seen any of the extended DVD versions. I would very much like to get ahold of FOTR and TTsoon, and look forward to when ROTK comes out as the extended DVD. My curiousity has been peaked in regards to the extra sceens. In the meantime, I am going to head to the theater again for another screening of ROTK. The first time around was quite fun, but now I can watch it with specific things in mind.
i really had no problems with the removal of other elements of RoTK, but the significance of the scouring of the shire, combined with the fact that he flash-forwarded to it in the earlier two movies, made it an inexcusable omittance.
When he showed the Shire burning in Galadriel's pool, it was being used as an example of "this will happen if you do nothing, so you'd best not give up." Yes, in the book it happened anyway, but for the movie it presented to problems:
1. Length. When you movie is already at three hours, another long, complicated sequence will add on a lot of time. The Scouring, done properly, would have taken at least 30-45 minutes. I know I wouldn't have wanted to sit that long, and I can't think of what I would have cut out to fit it in.
2. Climax. You've battled Sauron's hordes and destroyed the riing. Yay! You win. Wait, no not yet. Now you have to go fight yet another battle against the evil underlings who are oppressing the halflings. It may have been significant for the book, but the movie was not hobbled by the lack.
If you are interested in some fascinating discussion on the movies in general, and on the Scouring check out http://nielsenhayden.com/makinglight/archives/004263.html#004263 and the comments.