I just watched this and after enjoying LOTR trilogy i was hoping this would be just as good but it falls short for me. The film seems really padded out (what's the extended edition going to be like??) and could have been at least 30mins shorter. But the biggest gripe for me was the silly moments like 13 dwarfs and Gandalf falling 100's of feet down a cavern on a bridge and landing safely at the bottom, or that bit with the mountain rock creatures fighting and they all manage to cling on, or the fight with all the goblins. I realise its a fantasy film but something didnt sit well with me, felt abit like that bit in Indiana Jones and the Temple of Doom on the traintrack where they jump over a gap in the track and land perfectly on the other side. Cringy moments of unbelievablity and the LOTR didnt have many of those moments and you actually felt the characters were in danger - in the hobbit I didnt feel any moments where they were in danger and some magic of CGI would see they through. Also, i didnt really feel anything for the characters, don't know if its because they were dwarfs and I just couldnt relate or if the casting was wrong. Bilbo was better than expected, Gandalf is Gandalf but it was just missing emotion for me. There was a good moment with Gollum in the cave which i think saved the film but nothing much else was that great. Run of the mill Peter Jackson action sequences with lots of shots of New Zealand to make it feel epic.
Other than that, i enjoyed the film but its a pale imitation of the 3 LOTR's fims, heres hoping the second part is better but i give it a 7/10