I just got home after watching King Kong. I must say, I'm very impressed. It was visually appealing, the story was touching, the actors were great, all around a great movie.
It's not quite as epic as Lord of the Rings, but it will definitely leave a mark in my mind. I walked away from this feeling how I did after Sky Captain and the World of Tomorrow and Stormship Troopers. It's really surreal but the story is so good that you get sucked into it and believe it's real.
Peter Jackson did an excellent job. Definitely worth the $10 to see it.