Great even on a small screen, but:
Frodo is too young.
The book is really about Sam.
The best thing about Ian McKellen as Gandalf is The Hat.
LOL! It is a good hat, at that! :-)
Good point; however, IIRC, Hobbits don't reach the age of majority until they turn 30, so I think the initial encounter in the movie between Gandalf and Frodo would be appropriate (considering that Hobbits age slowly). However, according to the book, Frodo left The Shire with the ring 20 years after that, so yes, he should have aged somewhat (I was a little irritated how the movie made it seem like the flight from The Shire took place shortly after Bilbo's 111'th b'day party).
One final gripe about the movie portrayal of Hobbits: I think Merry and Pippin in the movie were made out to be too unserious and silly. In the book, Merry especially was a lot more mature - Pippin, of course, being the youngest, was more careless.
I agree. Notwithstanding, I think Sean Astin did a terrific job in the scene with Shelob ("Return of the King").