Yes, there are som dodgy shots in LOTR. This doesn't surprise me seeing as WETA was relatively new to the whole game and the fact that LOTR--especially the first film--did not have nearly as big a budget as Lucas. But yeah, there are a few really poor shots. Gollum however, i always felt looked real--the texture of his skin, the way you could see veins under the flesh, and most importantly his face: i remember the first time looking at his eyes and remembering that he wasn't real and being really creeped out because it was one of those "looking into the soul" moments that was totally artificial. It amazed me. I think Gollum was what Lucas wanted Jar Jar to be, this incredible creation that was real and loveable and that everyone was talking about in amazement. As it stands Jar Jar was a sometimes-impressive technical achievement that benefited the film in pretty much no way at all.
And i think the main thing that Jackson achieved is that he achieved suspension of disbelief. You know that the Tatooine matte painting is not completely photorealistic in ANH but you never get pulled out of the moment because you are emotionally engaged in the film. The PT always seemed more jarring because we never properly connected to the characters or plot.