I agree and disagree. I believe it was the most overrated thing i've ever seen, the guy who played Harry (can't remember his name at the precise second) can't act to save his life!!!
I've not seen the second one but apparently he gets better - not like he can get worse!!!!
The plot i believe you might have been better off reading the books first, of course if you aren't a big reader then thats out, but they aren't as slow and are way more interesting as far as the plot goes.
With all this said it was his acting that got me, after the read it actually came close-ish to what i might've expected it to be like, but the bits missing where sometimes i think more important then some of the stuff in it.
Although i agree with craigbaxter about Lord of the Rings, loved them both!!!