My first problem with the film was that I could never recommend it for a third-grader. I am archaic, I know, but that much violence is just not appropriate for that age. The book has battles, characters die, but no heads are hacked off.
As a Tolkien aficionado, not a fan, the story changes did bother me. It was Jackson's faithfulness to the Lord of The Rings that made it not only great cinema, but like seeing and old friend on he screen. With the Hobbit I had to let go of the book to thoroughly enjoy the movie. That being said, I did.
Stretching this story across 3 films seems motivated by nothing but greed. There are unnecessarily long Rube Goldberg scenes and dialogue that is tedious.
I wish that Jackson had made one Hobbit movie and put his considerable talents to work on another project. I still and glad that he did make (is making) The Hobbit and I will see part 3. I will alos take out my Blu-ray copies of The Lord of the Ring and watch Jackson at his best.