Homeless, I would like to answer your question - "given just this one movie, would you still consider it a wonderful story if you had not read any of the books beforehand?"   I would answer, yes.   I had read The Hobbit and found 3/4 of the book captivating, and the last 1/4 rather contrived and anti-climatic in comparision to the rest of the book.

I found the theatrical release of Fellowship to be a wonderful film - I don't think I would call it a classic, but to me it is an enjoyable film that I have watched a few times (once in the theater and several times at home with my son).

I was also inspired to buy the special edition DVD with over 30 additional minutes of film. On one hand I thought it answered some questions and expanded on a few plot points and characters, but overall I thought it made the film drag and I really don't think critics and audiences would have responded as warmly if that were the intial release.

Ron