Just saw the movie and loved it. The effects were top notch and I didn't find the film to drag at all.
Warning: Spoiler! (Click to show)
Naomi Watts is both hot and a good actress and the relationship between here and Kong worked. I would give this film an 8 out of 10. A 9 had they trimmed about 30 minutes from the movie. It ran about 2h45m with 15min of credits. Can't wait to get this on Blu-Ray or HD-DVD and listed to the Kong-V-Rex fight on my HT 
The effects towards the end with Kong on the Empire State building are awesome.
As is the way Peter Jackson has created 1933 New York. I enjoyed Jack Black, and found it hard to dislike him as a baddie as I laughed at most of what he said and did (where maybe I shouldn't of?) 




