Hobbits made Peter Jackson a titan. How's the view from the top? Judging from an exclu sive screening of his new movie, 'King Kong,' it's thrilling. Like any classic film worth its salt, the original 1933 "King Kong" has its little unsolved mysteries. Most notorious is the missing spider-pit sequence. Co-directors Merian Cooper and Ernest Schoedsack's first cut of "Kong" featured a scene on Skull Island—the famous ape's jungle pied-a-terror—in which several men tumble into a chasm and get devoured by giant arachnids. It was screened for an audience only once. Cooper later said that he dropped the scene for "pacing" reasons; no one crucial to the plot falls into the pit and the directors wanted to get on with his story. According to legend, though, there was another reason: the scene made several people barf. In any case, Cooper dumped it, and no one has seen it since. [More]