My favorite movie of all time is hard because it's a cross between Van Helsing with Jackman or Lord of the Rings. However, if I had to pick between the two I must say that Lord of the Rings has to be my all time favorite and I love The Fellowship of the Ring the most.
I choose fellowship of the ring because to me it holds some of the best scenes when they are traveling through Moria.
I love the beginning when Frodo and Sam are in the shire and everyone looks so happy with Bilbo's birthday party. I love the creepy scene with Gandalf yelling at Bilbo. The Nazgul, the scene with the river of horses, blah blah blah. I just honestly have a love for the whole entire movie and I seriously cry every time I watch Gandalf fall from the Balrog. Although, to make myself feel better about that situation I just tell myself he left to go collect more xp and level up. :)