Was pleasantly "shocked" at how good this movie was after reading some of the less favorable reviews. Loved the way this movie is intertwined with the Lord of the Rings Trilogy--in many ways (characters, mood, music, themes etc.) Tolkien's world of middle earth is vast and complex and everything is related to events that occurred in bygone eras. The more you read and know about this "world" the more you will appreciate what Jackson is doing with "The Hobbit".
Was wondering if I could accept a new Hobbit--after the outstanding performances of Elijah Wood and Sean Astin in The LOTR--but, immediately, I could see that Martin Freeman was an inspired choice to play Bilbo Baggins. The artwork, special effects, music, lighting was superb. I admit that I saw it in 2-D. I don't like 3-D. It gives me motion sickness. Perhaps some of the more negative reviews were from critics who viewed the 3-D version. The character of Radagast may not have been my favorite, but he is a far cry from the abominable Jar Jar Binks in the Star Wars movies.
The story was inspiring and emotionally satisfying. The build up for the next chapter was skillfully done and left me with yearning for the next movie. Do we have to wait a whole year???