I haven't seen the new Hobbit films and probably won't. I really liked The Fellowship Of The Ring when it came out, I must have been 19 or 20. But when I watched it again in 2010 I didn't think too highly of it anymore, and Peter Jackson is a terrible, terrible director in my opinion. I think if people go back and watch these films at an older age, they may form a different opinion, similar to how a lot of PT fanboys stopped liking those "movies" once they grew up.
Return of the King was absolutely insufferable when I watched it in 2003. Other than Viggo Mortensen's performance, there was nothing redeemable about that flick at all.