I'm a big fan of all three, especially the extended versions. They're all marvelous films, can't choose a single one.
But I will cop to having a special fondness for the attack on Isengard in THE TWO TOWERS, which is for me probably the greatest single action scene Big Set Piece since the Chariot Race in BEN HUR.
I dug THE HOBBIT for its shaggy dog quality. I just kicked back and had a rousing good time, and that's about all I was really expected to do. We'll see if Jackson can sustain that good feeling throughout two more full length films and extended Director's Cutapaloozas.
"If they can get you asking the wrong questions, they don't have to worry about the answers." Thomas Pynchon, GRAVITY'S RAINBOW
"Reality is that which, when you stop believing in it, doesn't go away." Philip K. Dick
My blog: http://www.roscoewrites.blogspot.com/