Elijah Wood is a great Frodo. With his wide blue eyes he easily portrays the character's spiritual dimensions.
Ian McKellen -- perfect Gandalf.
Viggo Mortensen looks damn hot wet. Also, he does very well with Strider. He conveys quiet strength and a sense of heart that belies his grim exterior. Did I mention he looks hot wet?
I want to move to New Zealand. But only if I can live in 'Hobbiton'.
I'd like to say more about the book as well as the movie. For me, the film makers did capture some very important things about the book, but it will take a few days cogitation and maybe another viewing to put them into words.