It has been a few years since I last saw this movie. It holds up. It is longer than I remembered. It does start slowly.
In this movie, Frodo Baggins is on a quest to destroy a magic ring. There are several rings of power but the dread lord Sauron created one ring to rule them all. Frodo acquires allies, the Fellowship of the title, on his quest.
The action is good. The villainous ring wraiths are creepy. I think the fact they are mostly silent makes them creepy but the look helps too.
The acting is good and Frodo, played by Elijah Wood, is a likable hero. Ian Holm is good as Bilbo Baggins, who left the ring to Frodo. Christopher Lee was on hand as a villain. Ian McKellan is great as Gandalf.
This is better than any movie in the Hobbit series.