By the time I am at least fifty years old, I plan to have watched ALL of the special features on the Fellowship of the Ring: Extended Edition.
Seriously, folks. There's a lot of them.
But I have at least watched the extended version of the film all the way through. And I have to say I think I prefer it to the theatrical release. It feels a lot more like the book . . . I remember one of Roger Ebert's few complaints about the film was that while the book felt kind of like a british travelogue, the film was slightly more on the action roller coaster side of things (but, Ebert said, in a good way).
This extended edition gives it a little more of that travelogue feel, as most of the new and extended scenes are just little bits where the Fellowship is just . . . travelling.
Aragon singing some old elvish song around camp one night. Sam complaining about a root sticking in his back while he's trying to sleep . . . good stuff. Makes for a cosy viewing.