If you keep in mind how mindlessly simple the plot was, the only thing to keep my interest was the descriptions of the settings and the critters. Tolkein did that with words, Jackson on screen. I'd call that a draw.

A director who is a true storyteller can sometimes meet or exceed the promise of a book. But that is rare.

I am one of the few people I know who liked Forrest Gump the book better than the movie. Certainly there are huge differences in the nature of the main characters.