Well bought it today and watched for the first time. Overall pretty good, nice to see some familiar faces.
The things l hated about it was the CGI characters. The goblins and trolls where pretty much all CGI and looked way to polished and fake. Example the Ork missing his hand, he looked like complete crap. Looked like a plastic character do to the full CGI. Why the hell didn't they put an actor in prosthetics like Lurtz in FOTR for example? Also didn't like the design for any of the orcs or goblins. The designs for the LOTR where a million times better.
Many parts felt too childish (geared towards kids more then LOTR was). Example the trolls with the horses scene, and the goblin king scene, even the fighting scenes towards the end had comedic elements in it l didn't like.
Also didn't have much drama in it really. LOTR had much more of a serious tone to it.
Overall pretty good just standing on its own. Hope they get a little better though.
EDIT. Also have the ultra violet digital codes for $5.50 if anyone wants them.