I'll keep it short. It's a good time. The best parts of the movie (for me) are easily any moment with Bilbo (Martin Freeman) in them. They do an excellent job of not rushing the scenes. The stuff they add in from the other texts works fine. It is however very disappointing when you see the junk they simply made up. There is more dismemberment shown in The Hobbit than in Lord of the Rings and sometimes they make it's a little silly/irreverent. It attempts to be dramatic too much to a level where you begin to feel insulted. For example, there are way too many pre-battle staredowns near the end. It's still a very fun movie and is definitely worth seeing.