Yes, messed up. I'm far from being a Tolkien 'purist' but I've read (and thoroughly enjoyed) LotR a number of times - Jackson spectacularly failed to capture the atmosphere and essence of the books. Along the way he also completely messed up some characters and their motivations (such as Faramir).
Now I know that when translating a book to a film you need to make necessary changes, but many of the changes made were totally unnecessary.
I didn't miss Bombadil as such, but I did enjoy that part of the book (well, except for the singing).
I also disliked the look of the films due to choice of lenses, lighting, etc - the look Jackson went for also managed to be the polar opposite of how I imagined it would look.
Overall, for me the films were a failure, but I know that I'm in a tiny minority. I have no hopes for The Hobbit.