Of course I watched The Lord of the Rings: The Fellowship of the Ring soon after buying it.
I have one complaint. My TV isn't big enough! I've got a 68cm TV, so it's still a reasonable sized TV, but according to a few people I've talked to, everyone's been saying the same thing: no matter what size TV they've got, it ain't big enough.
On Sunday night I watched the special features on the second disk. Really good. Probably stuff that I'll watch again. Plus Orlando Bloom (Legolas) is cute with a mohawk! Also included sneak preview of what's in the Special Extended Edition coming out in November. There's an extra half an hour of movie for a start, though it's not half an hour in one place. There looks to be extra bits and pieces throughout the movie. Looks good. Plus sneak peak of movie two: Lord of the Rings: The Two Towers. Looks really good!
An on a related note, no one seems to have added LotR:FotR to the DVD Profiler database. Might do that myself and submit it.