What do you look for when it comes to “best” directing? I confess, for me it’s about consistency: all the performers, all the “crafts”, even the rhythm of the edit (not always under the aegis of the director, by the way), are on the same page, delivering the same tone. If it’s slow and meditative, you’re not bored, because everyone is doing their job to make that purposeful instead of plodding. If it’s broad and loud, no one is over-the-top but everyone is Stylized, Theatrical. You believe in the world of the film because the director has worked on every element to make it real.
I think that's what everyone was responding to in 2003 when Peter Jackson made his inevitable ascent to the Dolby stage, a consistency that spanned 438 days of shooting, three years of release (and reshoots), a cast and crew of thousands, and beaucoup box office. Everyone knew they were waiting for the third movie to give him his reward:
As you see, he wasn't the only nominee, and nobody turned in a bad movie. Ranking them is more a matter of who you love most than who you like least. Here they are, ranked from 5th to 1st.