I'm a big fan of the Ralph Bakshi classic
The Ralph Bakshi film was a daring attempt to do something different, and using a great story for that. I respect Bakshi's film.
I guess I don't care for Jackson's films for the same reason. They're a gutless copy from the book, with predictable and mediocre cinematography and no vision at all. Great for the fans of Lord of the Rings, but as a film it is a failure, just another easily forgot blockbuster in a time when so many are being pushed out.
It's funny because some people here are criticizing the film for where it broke with the books, but I think that's only noticeable because it clearly attempts to stick to the books. Because it tries and fails it becomes a flaw, if it never tried it would've never been able to fail, and it would have been a grander film for it, even if none of the Lord of the Rings fans would've been happy (I would have, though I'm a fan of the books, I think it's an asinine attempt to try and translate the same strengths books have into films, it's disrespectful towards both media involved)
Watership Down is the same but different. A great book (my favourite of all time) translated into film with little changed, yet Watership Down clearly has its "ownness" enough to be distinct of the book, and to be a great film.
LotR? Meh, take it or leave it. They're a translation, they're not art.