I have no attachment to the original King Kong, and in my opinion, Peter Jackson's remake wins, hands down. Naomi was more charismatic than Fay Wray, Kong was more alive than a stop-motion version, and Jack was more of an everyman hero than the square-jawed version in the original movie. Jack Black turned in a more lackluster performance than the original Denham, but that could be overlooked due to the performance of, well, darned near everyone else in the new movie. Great cast, great acting.
Peter Jackson owns my wallet when there's entertainment money in it.