Yeah, Fellowship will always be the sentimental favorite.
But I think cinematically, ROTK was the best...
Do ya? I don't know, they're both pretty dang good.
I remember sitting in my seat five minutes after the credits ended, stuned by the whole experience. I was already in love with the film in the first five minutes, but at the end I was convinced that PJ would somehow pull it off. It wouldn't be the book brought to the screen, but a movie that was as true to the spirit of the book as the medium, and the run time, would allow.