I love the new cut. LOVE it. I can't believe no one has yet mentioned just how different it really is. It is not just that they added and expanded scenes, the whole movie has been rescored! Even in scenes where the music is exactly the same, it isn't. The music is quieter in most places, and in some places totally silent... It seems to me that there was more faith placed on the actors to drive the emotions of the audience than the theatrical release, which was at times dependant on a bombardment of (really awesome) music (dwarrowdwelf, for example).
Definitely a lot of treats, especially for people who love the books. There is so much love for the book put into this movie, by everyone from the cast to the writers to the miniature makers... (anyone else shocked by how many shots were begun in miniatures?) It is hard to speculate what a person who was not familiar with the story would think of this cut. It feels way more like the book to me, and that is why I love it. The more stuff they put in to set up aragorn, the more I anticipate the next two movies. There are a lot of references that will go over people's heads, but still add to the richness and mystery of it all, I think. A lot of people love the books without ever understanding what 75% of the references which are made really mean, or the full story behind them. (like the many songs sung in rivendell, and where the light in the phial of galadriel originally hails from) and no one understands them all, except JRR himself, maybe.
It felt even less like any other movie I have ever seen than the original did, a completely foreign experience from what movies normally do for me. I love it.
I am at work, as I type, and I fear that I have begun the "wraithing process."