Just got back. That was... an experience. Saw it in 3D, HFR and while I eventually got used to 48fps, I never stopped noticing it and never enjoyed it. I'm not a fan of 3D in general, but I wanted to watch this the way Peter Jackson had intended. I will probably not be doing that again. No offense, PJ. The HFR made everything look pretty cheap. Scenes that I would imagine had gorgeous cinematography looked like a low-budget soap opera. It's a broken record, you've heard it all before... And it's all true.
The film itself, however, just lacked something... Can't put my finger on it. Don't get me wrong, Martin Freeman was outstanding as Bilbo. He deserves an award for the depth he brought to that character. Great performance.
But the original trilogy had a sense of doom and mortal peril from the first frame. This one felt very silly and often goofy. I never felt like the characters were ever in danger. And, because of the high frame rate, all of the antagonists looked like video game characters, so that also took away from the sense of reality.
I didn't love this movie like I did the original trilogy, but I'm on board for the next two films. I loved how this one fit nicely within the already-established family of films. And, despite its flaws, it is another adventure to Middle Earth, so I'm happy to tag along for the ride.