At 178 minutes, it's long enough to establish the myriad inhabitants of Middle-earth, the legendary Rings of Power, and the fellowship of hobbits, elves, dwarves, and humans--led by the wizard Gandalf (Ian McKellen) and the brave hobbit Frodo (Elijah Wood)--who must battle terrifying forces of evil on their perilous journey to destroy the One Ring in the land of Mordor.