First, let's take the "issues" out of the way...I was surprised about how much stuff they added to the movie, if you've read the book at first it feels a little weird because it's not part of the Hobbit, but it is part of the Tolkien lore, so, as a fan, it's welcomed. But like with LOTR, purist might not like it.
There are a few crucial changes, like Bilbo deciding not to go to the adventure at first, but it also adds a bit of depth to his character and how his change of heart makes him even more relatable.
One thing that bothered me a little bit, is how he "found" the ring, he deliberately and knowingly stole it from Gollum, which is a bit odd since it's always been said it was by mere "chance" that he found it... even in the LOTR movies.
The eagles don't speak, I understand it might've been weird in the movie, but it adds a little bit of depth to them besides being just transportation for halflings and wizards...
The whole Azog plot felt a little bit forced IMO... but I understand there has to be a "bad guy" in the movie...
But all in all, these are nit-picks, and overall the movie is simply amazing!
The opening sequence seeing Ian Holm and Elijah is great! It's like seeing old friends!!
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The backstory is great to portray Thorin as the underdog hero, and also all of the Erebor/Dale sequence is great, and really sets things in motion and makes you understand the mission better!
Freeman as Bilbo is perfect! What an awesome portrayal of a character, he literally owns it!
More Gandalf is always good, and in this case Ian McKellan does a superb job giving us more of the light-hearted and even imperfect wizard and his importance in the whole Middle-Earth lore!
The Shire looks better than ever as well as Rivendell.
I loved the whole Trolls sequence, though for some reason the place looked quite different than on Fellowship, but that's just nit-picking on my part.
Unlike a lot of people who say Radagast is the movie's "Jar Jar" I have to digress, he's in no way annoying and actually has real plot elements that better tie The Hobbit to LOTR and even crucial elements from Appendices and Untold Stories... I liked him quite a bit, and his rabbit sled is pure win!
The whole Dol Guldur scene was quite interesting, but for some reason I thought it showed Gandalf in it on the trailers.... maybe I'm confused here... but I really hope we see more on the EE!
Not too crazy about the rock giant fight, it felt a bit forced, but at least it gives a bit more action to a scene that's quite short in the book. It does however changed quite a bit how they end up with the Goblins.
BTW, the whole Goblin scenes is pure genius! Loved it!!
The Warg scene with the whole company on top of the trees wasn't how I envisioned it at all, but it does add quite a bit of story, and the Eagle rescue is quite epic!
Loved it!!
And the ending just left me both excited yet spoiled, specially since we have to wait a whole year for the sequel...
Anyway!
I'd give it an 8.5/10
And personally I loved the 48fps format!