Actually, something was achieved by the end, but it was more esoteric than most people want in a movie. Only by the end was the Fellowship really a fellowship. After Boromir makes his error and makes up for it in the most profound way, and Aragorn and Legolas go to save the other members of the Fellowship because they can't immediately help Frodo, the group is definitely a fellowship, and that's the title of the movie, so I think it was achieved well enough.
As I've been rereading the book, there is one thing I wish was in there that isn't. It doesn't ruin the movie for me, but it would have been neat to see. At the beginning of the book, when Gandolf explains to Frodo that the ring is Sauron's ring, he explains how he found Gollum and got info off of the demented hobbit. Its a good part, because it explains why hobbits are the only logical bearers for the one ring. The premise is that Gollum had the ring for hundreds of years, yet never became a ring wraith, whereas the ring wraiths succumbed after a much shorter time, even though they were more powerful than any hobbit. It also involves Gandolf having to mildly torture Gollum for the info, as time was of the essence.
Let my geekdom be known to all!