He may have said that, but I would be interested to know who has "final cut" authority if it is not Jackson. He may have said he doesn't like that term because it is a term that could be considered insulting to whoever handles "final cut".
On the other hand, Jackson got one heck of a lot of respect and leeway by virtue of the fact that he was able to put together three(!) 3-hour movies at an estimated $300 million before anybody even knew for sure that they would be successful. An unheard-of risk was taken, and the money folks who put the financing together (and the financiers themselves) deserve every penny they will make off this project for the next fifty years.
So I can't blame Jackson for wanting to be "delicate" - - and probably for these movies he is sincere, given their length to begin with. I suppose "extended" is a more appropriate term after all. In any event, I am delighted - - I wish Jackson would find a few more hours of footage to add.
Whattya wanna bet he DOES, after "The Return Of The King" is released, to be included in the all-encompassing Special Edition Ultra Collector's Extended Edition Super 10- DVD LOTR Boxed Set?
Note: I have no such inside iggy. I would not, however, be at all surprised at such a release. Nor hesitant, it must be said, to purchase it.
Actually, Lancey, I believe he was contractually obligated to bring the theatrical releases in at under 3 hours, for ticket sales purposes. He simply preserved the cut footage for the Extended Releases. One good bit of news that I heard was that the studio (New Line Cinema), due to the extraordinary positive response to both the films themselves and the Extended Editions, allowed him to exceed the "3 hour" rule for "The Return Of The King".