I saw Titanic in 3D today and dude was it awesome!
First, the 3D conversion was flawless; 99% of the time it seriously looked like it was shot in 3D and even though it didn't have any of the stuff-happening-right-in-front-of-your-face effects that I enjoy so much, for the first time in my life, I didn't even miss them - here, for me, the 3D did exactly what it's supposed to do according to the advocates of the behind-the-screen 3D: it made it a more immersive experience - and yet I was consciously aware that I'm watching 3D throughout the whole of over 3 hours (something that is very desirable, since you're paying the extra money for the 3D). The transfer was pretty great too; I heard Cameron saying somewhere that they did some grain removal but he said the same thing about the Aliens BD transfer and it was plenty grainy. I definitely saw no typical signs of DVNR, like waxiness or smearing.
Second, the movie itself lost none of it's charm and epicness for me (and had some extra added on top by the 3D). I saw Titanic more times than I care to admit, in the cinema, on VHS, on TV, on DVD and in HD and the 194 minutes still just flew by in a blur of awesomeness. Sure, it's a cheesy love-story and it's a bit melodramatic from time to time but it is so masterfully executed that it simply makes me forget all that and enjoy the ride. It was simply a beautiful cinematic experience; on several occasions, I found myself smiling so wide that the corners of my mouth were tickling my ears - and not because it was funny but out of sheer enjoyment. It was also the first time I shed a few tears watching Titanic - but it wasn't when Leonardo died, they weren't sad tears - it was in the final moments of the ship sinking and they were tears of joy, because what was happening on (and behind) the screen in front of me was so awesomely epic and such a beautiful piece of film-making, it got me to a state of pure movie enjoyment.
Now this is what I call a movie-going experience. Thank you Mr. Cameron, I forgive you for Avatar now :-)