I suppose I still prefer the 1976 Jeff Bridges version. I really wanted to like Pete Jackson's version, and a lot of it is pretty good...but he fell squarely into the CGI trap on that one. The whole middle of the film is so Foie-gras stuffed full of frenetically harrowing action CGI sequences the characters BARELY escape from, that any real tension gets lost between entangled Apatosaurus feet. It's almost like Gandalf sat just offscreen, waiting to save the crew until it looked like even he couldn't pull it off. That gluttony kind of steals the tension from the more important moments later on in the film.
This one, too, felt too much like a vapid summer movie. I was hoping for a plot closer in spirit to Godzilla, which as we find out shares the same universe, but is a lot more intelligently written. Here's to hoping whatever Kaiju they resurrect next share more in common with Godzilla than King Kong.