King Kong - Worth All the Hype?

I have not seen the new King Kong, but being a huge movie-goer, it really looks good! I liked the one from the 70s with Jeff Daniels and from what I see of this one by Peter Jackson, it looks like he did a good job of keeping the romantic story line while incorporating some action scenes. I really like that in this version Kong fights a dinosaur. In the 70s version, he fights a giant snake which wasn't a bad idea either. Between the Lord of the Rings series and now King Kong, Jackson is fast becoming the new Steven Spielberg of the 2000s.
If anyone has seen it, PLEASE share your comments. Even if you haven't seen it, share your thoughts on it.