The first of the Hobbit movies is good–far better than the reviews make it out to be, and on par with Jackson’s Lord of the Rings trilogy.
That said, it does drag on a bit, and Jackson inserted some scenes to better dovetail the Hobbit with the LOTR movies. Mostly, they work. Radagast particularly seemed forced.
Other additions were welcome–the flashbacks detailing the fall of Erebor and how Thorin Oakenshield got his epithet (which, as a title, seems like it should have been written by Kipling) fit in with the story far better than Radagast’s bumbling.
And though the movie is a bit slow in parts, it does a good job of keeping those slow parts to a minimum and moving the story along. I look forward to the second film, whatever its title may be (I was hoping they would take a page from the 007 movies and follow the credits with “Bilbo Baggins will return in The Desolation of Smaug,” but no such luck).