I think the worst things in RotK were the removals of most of my favorite characters: Beregond, Bergil, Imrahil, Elladan and Elrohir.
I also think there is way too much Arwen (she's very sexy though
), and that Haldir is taking way too much place. And of course the geocraphical misses (Legolas: "The orcs are turning northeast to Isengard" and Gondor Soldier: "The orcs have taken the eastern shore" (in Osgiliath)).