I loved this movie, although unlike you, I did not expect anything but a fantasy/children's movie from a fantasy/children's book.
The scenery was breathtaking and the special affects/makeup of the creatures were just amazing. They did sissify Peter a bit, but in the book he was a bit of a weeny as well. The point in that I think was him stepping up and becoming a man.
It seems you were expecting more out of a children's movie than you should have.
"It seems you were expecting more out of a children's movie than you should have."
I think I was expecting more out of the hype...heheh.