Seriously don't get your hopes up if you're in for more than special effects... Firstly, the film does look fantastic, and the cinematography and special effects must be commended. The rest of the film is a big MEH! The original is a lot better pacing of the story and it seems Jackson over indulged in the use of special effects. The film is also unecessarily long, while for a bout 1 hour in the middle section Jackson seems to throw a new giant creature in every 5 minutes. It seems he was just looking for something to chuck in there, in stead of focus on the story.
The film's story is also a bit different to the original, and some changes were for the better, but some weren't. What I found most interesting was that in 1933 one Anne was scared of her life of Kong the whole film, barely a second without her screaming, but in this one she really gets the Stockholm Syndrome and loves him, and seems like she doesn't want to leave the Island.
My recommendation: If you only like special effects and are not a great film fan you will love it, to the rest, see it on a cheap-arse tuesday. 3/5.