The Lord Of The Rings movies weren't as good as the books (obviously) however they were still fantastic, I thought.
The Hobbit movies were nowhere near as good as the book, but were okay.
Now, The Silmarillion. Should Mr. Jackson make that in to a film? Or TV show?
I think not. The book is to intense for either, he could NOT do it justice. Nobody could.
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Personally, I wouldn't mind every book set in Middle Earth becoming a film by Peter Jackson...