Peter S. Beagle wrote the scenario... now why does that name sound familiar?
It says here that the film only covers the first half of the book. Was there ever any more made, I wonder?
It stops abruptly near the end of the Two Towers, so we don't get to see Frodo and Sam going into Shelob's lair, or the big battle outside of Minas Tirith. The bit that covers Fellowship of the Ring though is good - it's just a shame they didn't finish it.