Finally saw it last night, I went in with no preconceived notions, I've never read the book and really don't care about "!The evil money grubbing studios!

" splitting it into 3 films. Conversely I was never awed by the trailers and was not one of those getting all excited by a bunch of bearded Dwarves.
What I found was a magical film that was full of charm, good humour and spectacle. It starts off a little slowly but once it got going I found the journey immersive and the characters likable and easy to invest in.
It was great to see The Shire and Rivendell (All the scenes there were fantastic) again and I loved the scenes inside Erebor, these films really sweep you up and transport you to this fantasy land. The music as always was superb.
I thought the scenes with Radagast were great, really odd little character, loved his rabbit drawn sled and his scenes at the foreboding Dol Guldur that were excellent foreshadowing of The Necromancer in the next film, ominous stuff.
Azog the Defiler was one scary Orc, both battles with him were fantastic and I expect round 3 in the next movie as Thorin has to destroy him.
Speaking of Thorin, my concern was this movie would sorely miss Aragorn, and while Thorin is not as enigmatic or downright badass as Aragorn, he has a strong presence as the leader of the Dwarves, I also preferred young Bilbo to Frodo.
One thing that caught me off guard was when they left Rivendell and went across the mountains where suddenly rock giants started fighting each other, that was so out of the blue.
On the action front the film didn't let me down, from the flashback of the Dwarves vs Orcs, to the battle with the Orc's on Wargs, to the amazingly dynamic running battle and escape from the Goblin King's mine, to the badass shot of Thorin walking down the broken tree, surrounded by fire to face Azog. All glorious stuff.
I know some have their issues with the movie and fair enough, but I loved it, I felt transported out of this world for 3 hours, the same way I did the summer I spent reading the LOTR trilogy. My one regret while watching it was that I didn't see it on the big screen (oddly enough I also didn't see FOTR at the cinema). I'm looking forward to seeing the film again before I see The Desolation of Smaug, hopefully on the big screen.
8.5/10