I watched the first two over the weekend. I was a bit lukewarm on DOS. The CGI seemed a little poor in some of the scenes later in the movie with the Orcs and then again with Smaug, the dwarves, and the molten gold.
I am not looking forward to any more Peter Jackson "battles", but I think the rest of the movie should be okay if they flesh out the Necromancer / Sauron a bit. I an not sure if that is entirely made up material, or if Jackson pulled it from some of Tolkien's other writings.
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