Everyone has their own favorite between the two - the more carefree people usually prefer Movies, whereas the thinking and introspective sorts (most people writing blogs) prefer Books (usually). Its similar to a choice between technically sound and superior (like Rahul Dravid), or flamboyant (like Dada, Yuvraj). I had always been a 'book-person', but given my full time job, I don't find much time to read. However, I loved to buy books, so over the past few years have grown a large collection of 'new and unread' books - hoping to read them some time in future. However, with each passing year, the list keeps on getting longer.
One of the reasons I didn't see Harry Potter and LOTR all these years was because I wanted to read the books first. And that never happened. (Another reason was the fact that these are grand movies, not worth watching on computer screens or laptops. And having missed the screenings in theaters, my only hope was a big screen TV - which I finally got now in form of an awesome LED TV). So I finally stopped fooling myself, and admitted that I may never get to read the books. That I should go ahead and watch the movies at least. They do not have the feeling of reading the books, but you can manage to see a lot of movies.