Just got back from seeing it.
I had no issue with the 48fps - don't see what all the fuss is about.
The verdict: Hmmm. I will say to you what I will say to friends and family: If you were a big fan of the LOTR trilogy, by all means, see it. There are some scenes that tie into the Trilogy that are a joy to see on film. As for the primary story of *this* trilogy - I'm left wanting. They seem far too aware that they have three movies to meander through to reach their destination.
I have no regrets forking over money to see the first chapter on the big screen. However, at it's conclusion my first thought was "we'll wait for the DVD next time". Not a resounding endorsement at all.
So, not anything close to middle-earth shattering good, but not a total loss. I really don't think there was ever enough meat on these bones to justify three movies. A shame, really.
A few random observations:
-Sylvester McCoy was fun.
-Christopher Lee! I had forgotten he was in it! Great geek out moment with Saruman, Gandalf, Elrond and Galadriel all in the same scene. I would have rather stayed with the mystery of The Necromancer and the returning darkness, but we had to get back to the Dwarves.
-The Eagles! ... Again. It makes me laugh that the eagles are clearly on the side of good and at Gandalf's beck and call, yet never stick around to - oh, I dunno - fly them all the way to their destination.