just watched it, awesome, recaptures the LOTR feeling, it feels like the same world, same fantasy realm, same characters, despite the 10 year gap.
Does a good job of adding to the story to help interweave the hobbit with LOTR. Strated a little from source material, but to me it was in a good way.
the 48FPS and 3d was done well, nothing in your face, just a better cleaner richer image.