I appreciate the creativity that went into this world. It's beautiful and the characters are memorable. However, the story really drags on sometimes. It's a long journey, but we don't need to hear about every tiny detail about what the Company see as they walk for hours. Also, Gandalf calls himself intelligent (so humble), but

Spoiler

entrusts an inkeeper to give Frodo a letter of warning to leave the Shire (which the inkeeper forgets to give him) rather than warning and escorting the little hobbit out of grave danger himself.

I have so much respect for Peter Jackson and everyone who managed to trim the book down and make it movie-worthy.