I didn't catch some of the riddles. I had to choose between seeing the movie in 3D or seeing it with closed captions and I chose the 3D (I ran into the same problem with Life of Pi). However I will buy the DVDs of both of these movies so I will catch the riddles in The Hobbit then.
I gave the movie an A-. I enjoyed it but not as much as the LOTR movies. I think that after seeing Middle Earth in the three of LOTR movies some of the magic has been lost.