Which is the best Lord of the Rings movie?

This is, of course, a matter of opinion, but there are certain points worth noting.

In the second and third movies, unlike the books they are based on, very little actually happens besides massive battle scenes. Perhaps half of the second movie, for instance, is taken up by a fight that took half a chapter to resolve in the book.

If you like massive armies and vast battles, this will suit you very well. If you prefer plot and dialog and individual heroics, the first movie is the best.

Note also that the first movie also has the highest concentration of elves, and elves are inherently awesome.