I love Peter Jackson. The Lord of the Rings trilogy are some of my absolute favorite films. King Kong is an incredible visual experience, and Heavenly Creatures is a heart-breaking. The Love Bones, however, is basically a mess with a nice affective ending.
I think a lot of the blame lies with the horribly simplistic and sentimental source material. It brought out the worst in PJ. Jackson's typical bravado and visual splendor is tremendously lacking. The first hour and half plods along at a crawl with only a couple nice visual touches. Overall, I still enjoyed it and it strives for levels greater than 99% of all major studio movies, but it is an incredibly disappointing effort from a typically brilliant filmmaker.