Just taken the kids to see "King Kong" at the cinema. What a over-long, self-indulgent pile of crap it is. Although it is undoubtedly a masterpiece of CGI, the story line is far too flimsy to sustain this 3+ hour epic of cinematic navel gazing. Peter Jackson has stuck very close to the original plot line, and that's the problem - the original film ran for 1:40, this version runs for a interminable 3:07. The action sequences are utterly preposterous as well as being far too long, and CGI characters are more three-dimensional than the human ones.
By half way through I just wanted them to get on with it and shoot the goddam monkey so I could go home for my tea. I'm not the only one who thinks this - see this, this and this review at IMDB, for example - all of them hit the nail on the head - its a bloody awful movie.
My advice? Avoid.