I love the LOTR books and movies, but I have to say I agree with some of the people that posted here. Three movies is way too much. Two movies was pushing it, but three is ridiculous. I don't care wether it was for money reasons (which I think is likely, reguardless of what other people in this topic have said) or because the people making them really wanted to make 3 movies, it makes no sense to make a book that was probably half the size of the other books into 3 seperate movies. I blame Harry Potter. They got away with splitting #7 (which I actually thought worked) so now everyone is cashing in on what they did. That doesn't mean the Hobbit movies won't be good, I'm sure they'll be great, and i'm sure I'll see them if at all possible.
Still, I think its stupid to make three movies, and probably very hard unless they just make up half the stuff. I'm prepared to have the first 50 minutes of movie one just deal with bilbo's history from age 0-whatever age he was when he went on the adventure, or maybe they'll tell the untold story of Gandalf's childhood and how he became the Wizard he was during the LOTR's books (my guess is that Radagast teased him mercilessly