I'm rereading the LotR and I just rewatched extended editions of the films.
I'm not sure that I can watch them ever again though. Some things were done so incredibly well, certains sets, costumes, score, some of the casting choices, etc. but other things now irritate me beyond all tolerance!
Fortunately, there are other options such as:
http://www.fanedit.org/wp/?s=Lord+of+the+Rings
The problem I'm having in reading the books again is that somehow, some of the film actors have
overwritten my imagination! I can't remember how I imagined Legolas. Now I see friggin' Orlando Bloom! AAAARGH! So I've been going through my collection of Howe, Nasmith, Lee, Sweet, etc. artwork frantically trying to find some resemblances to my lost visions.
