The Lord of the Rings trilogy is comprised of The Fellowship of the Ring, The Two Towers, and The Return of the King.
At over 9h of playing time, it is not for the faint of heart. Even I, who has lived and breathed medieval fantasy for over 20 years do not listen to it in a single sitting. This Holiday Season, I even took three nights to watch it, and took breaks mid-movie, at the change of disk, to have a bite.
That being said, it is absolutely worth it. You'll get immersed in and transported to the universe of Tolkien to live a most epic of saga. The visuals are breath taking, the story gripping, and the characters well played.
Now, the special effects are aging a bit, not enough to lessen the experience, but noticeable. Some still look extremely good, like the Nazguls, the Balrog, the orcs, and the oliphants.
You might find the dialogs are a bit over sentimental at time, but they never fail to bring a tear when drama is near.
The single faceted Legolas seems to be the extent of what Orlando Bloom can play, but the tween girls love that elf. On the other hand, Vigo Mortensen's performance of the brooding scruffy Aragorn is excellent, and probably the best performance of the lot. Women of all ages fall that ranger. Close second to him, is Gollum.
My favorite chapter? The Moria. I've always been fascinated by it, and it's extremely well rendered.
All in all, it's a must see, a landmark of our time.