Standing ovations.
I was at the serbian premiere of the Return of the King, and I’m still euphoric. Last part is absolute master-piece. Of the three films, this part is most faithful to the book (with inevitable changes needed for cinematic experience), but that is not why I think is great. I had so much adrenaline built in me waiting for this film, that I would feel really down if it was anything but grand.
And it really, really is. Slow build up of the tension until the moment of battle at the Pelleanor Fields. My goodness, how fantastic that was. Agony of Faramir and Pippin practically singing the lament for him. Despair both in Gondor and Rohan, defiance, sense of honor in Men when facing certain death. Courage of the Rohirrim and overrunning the Orc hordes and fear in the Orc’s eyes. 
Clinging on the thread of the hope.
Friendship. Devotion. Never letting go, for no matter what. Heart-breaking Samwise Gamgee.
Just writing this brings me on the verge of tears. Never, ever has any film draw me so much into itself. Peter, Philipa, Fran and Weta created the films that would be hard to surpass. Can’t wait to see it again. And again… And…
I loved it but missed Saruman & Snaketongue messing up the Shire — and Pipin & Merrin coming to the rescue!
From what I read somewhere on the Net, Peter Jackson hates that part of the book and never intended to film it.
Personally, I feel that would be like an epilogue too long, since the movie climax was the fall of Sauron (very spectacular one if I may say) and that scene has no real connection to the rest of the story.
What I find most intriguing is the report I saw on theonering.net that extended edition will be 5h long! That’s a 1.5h longer than theatrical — there are movies shorter than that. I can only imagine what would be in it (but I have some indication).