Kong is King.
I don't think Peter Jackson will choose Lord of the Rings as the movie most representative of him. LOTR was just an intermediate step, a step for him to get the green light for King Kong. He managed to do it, and now he has made a masterfull film.
LOTR I didn't find it very interesting. Of course it has great visuals, and diretion, but Jackson was not allowed to intervene with the sacred story of Tolkien. However with King Kong he can direct and change the story at will, and I believe that only now do we see the real Jackson.
I think this movie is superior than LOTR. It has awesome action scenes, a great Naomi Watts, a great CGI ape, a love story, a beautiful 1930's depression NYC, and incredible visuals. We watched the movie at Vmax, the largest screen in europe. The size was great however the colors at the village cinemas lately are washed out for some reason (or am I used to Arclight standards now?).
The story builds up very well, and I was never bored despite the fact that the ape doesn't show up until 70min in the movie. And it just gets better and better after that point. The toughest thing was to make the characters more than 1D, and Jackson has little scenes and details here and there that achieve that goal. I also liked the connection between the ape and the girl, the facial CGI expressions really did a great job here. I will be surprised if it doesn't win a Special effets Oscar, and for sure it will be nominated for Best Movie and direction.