I actually dug The Lovely Bones. It wasn't a great movie, but it was an interesting one and I liked it.
King Kong took a while to get off the ground, but once did it was, at times, exquisite and breathtaking and truly thrilling to behold. It's not quite on LOTR level, but it comes pretty damn close at it's best. It's a flawed film, but still fantastic IMO.
So I got no problems with Jackson. I don't think he's lost his touch at all. And nobody knows this world better than he does. I was relieved and excited when Jackson came back on board as director.
And truth be told, I don't think Del Toro is as great as people claim him to be. Pan's Labyrinth was an interesting combination of a gritty war time story and fantasy but I don't think it's quite the masterpiece people claim it to be.