Any direct English equivalent for "佩服"? 我真佩服


I know that "佩服" means admiration/respect, but would there be any direct word for "佩服"? 

Given "我真佩服", I understand that it could be something like "I have a lot of admiration", but more or less, it sounds a bit off. 

I also know that there may not be any direct English translation, but would there be any word better than "admiration"?
I think "appreciate" should be the right word.

I'd say the first meaning, "to be grateful or thankful for", of the word is not related. But 2nd and 4th meanings are good matches. See http://dictionary.reference.com/browse/appreciate for the meanings that I mentioned.

I am not sure if one can apply it to somebody. Correct me if I were wrong.