In "my version" also would have a different viewpoint . One of the things that wasn't really tackled in PJ's version to my mind is the workings of destiny. I think I would have started in Gondor with the threat of war and Faramir's dream ....which summoned a son of Denethor to Imladris long before Frodo set out but more or less the same time as Gollum escapes the woodelves. Needless to say there would be lots more character development and a lot fewer tedious battle scenes.
