The thing about the extended cut I found interesting is while I loved the new scenes, and I think the film is better with them in, the theatrical version isn't any worse, per-say. The LOTR theatrical cuts are vastly inferior to the extended cuts, but the theatrical version of King Kong isn't neccesairaly a worse film. I think the extended is better and the new scenes add to the film, but its not like the theatrical is bad in comparison. I wish a few more of the Deleted Scenes would have been added, myself, but I think it is easy to say the extended is the definitive.

Spence, you're edit sounds good, though I think I have a different taste in movies than most people here. Personally, I would just leave the extended cut alone, because its pretty near perfect to me. I'd edit down the empire state building scene, but other then that, I love it the way it is. I can easily see how many people would want edits though, and yours sounds very good.