Cauron did an outstanding job and delivered one of the best films ever. The pacing, the atmoshere, the characters all worked wonderfully and created a 'real' world that just sucked me from beginning to end.
I haven't had this good a time in a long while. The first two were terribly dull, that chugged along from scene to scene with no narrative thrust, but this one just zipped by like a roller coaster. There were slow moments full of dread, comical quick bits of humour, and dramatic highs that took my breath away. It was an inspired choice, like getting Kershner to direct Empire and it paid off in spades. It almost made want to read the books, except that I have unfortunately. I wish Cauron directed more of these kinds of films. Certainly better than the LOTR. While HP3 is by no means perfect, as a whole it just works (like the original Star Wars trilogy) and that's what counts.
For other new fans of Cuaron, if you haven't seen the Little Princess, I highly recommend it. Again not just a kid's flick, but a terrific film filled with drama, pathos, humour, humanity and really takes you away. An all time favourite that I'm happy to add HP3 next to.