Ironclad was, arguably, more historically accurate, but KoH was a sweeping epic- much larger budget, higher production values so it is more appealing to the eye. FWIW, I loved Ironclad just as I loved KoH - the DC is where its at though...so much so that I normally won't watch the theatrical version when it comes on tv, despite my love for this movie.
ARN still rocks for me, though. I read the books over the winter.