I saw the movie yesterday and was very impressed by the 3d-effects.
Plotwise the movie was entertaining, very similar to the Fellowship but, of course, not as deep. Loved Freeman in his role (even though I still call him Watson *g*), and especially the scene with Gollum was nearly perfect. That made up for the fact that the movie could have been shorter. But it was playful, and I never felt bored.
I was a bit surprised that Cumberbatch was listed in the cast as the Necromancer... I know that he fills both this role and was cast as the voice of Smaug but when did the Necromancer appear? In the scene where the Witchking came back to "life"?
Overall, it was really good to again see Middle Earth. And I also think it's good that both the Hobbit and the LotR have the same feel. I'm definitely going to watch part 2.