My favourite's are:
1. The Lovely Bones - I love this movie more than it's probably healthy, it's brilliant and brave and I consider it to be if not his best movie then his best adaptation.
2.The Lord of the Rings - well, it's kind obvious I love LOTR

I consider FOTR to be the best out of the three.
3. Forgotten Silver - maybe because it reminds me of Zelig which I also love, plus underneath the funny mocumentary there is darker story of an artist who sacrifices a lot for his art. Besides I adore the ending tune of this movie.
4. Bad Tase - it's the exploding sheep that got me and the whole low budget nature and plot that somehow makes sense even though it shouldn't.
5. Meet The Feebles - it's wonderfully weird and funny and yet somehow I find the ending scene to be terribly sad. Plus there's the Sodomy song that's very catchy.
A bit less liked:
Heavenly Creatures - the murder scene with the Humming Chorus is absolutely chilling and the Orson Welles chase scene makes me laugh, great performances and lots of visual symbolism.
Frighteners - Jeffrey Combs totally owns this movie, I thought the beginning is great but the movie has a lot of problems with storytelling.
King Kong - great adventure movie, loved Andy Serkis as Kong and the relationship with Ann, as with Frighteners needed a bit tighter storytelling. I also love the score, OK Howard Shore is awesome but JNH did an outstanding job on the music considering how little time he had.
Braindead - a few great laughs but in general my least favourite PJ movie.