I guess if spoilers are concerning you, you probably wouldn't be at all interested in this thread in the first place.
So I saw this last night, here are my thoughts (sadly I can't comment on the 48fps because Surray Quay Odeon was having 'technical problems' and could only show the regular one, which was annoying because I really wanted to form a pretentious opinion on it). I will point out I have latterly come to like the LOTR films, though I am no fanboy.
+ 3D was nice and smooth, didn't add a huge amount but did work in terms of making it 'immersive' (urgh)
+ As good-looking as LOTR, the landscape, the detail, the whole world they build is stunning. Whoever said it's like a BBC teatime drama is an idiot.
+ Martin Freeman is very good, as are the rest of them really. Richard Armitage is good as 'hot dwarf' Thorin. Only Christopher Lee really seems to phone it in for his one scene.
+ Some good action
+ It is long, but it's never boring, it's not like they stand around discussing grouting for 30mins at a time
+ Syncs really well with LOTR, the framing with old Bilbo and Frodo is the day of the party where LOTR begins, and the discovery of the ring/rise of Sauron is well drawn.
- Tone is well uneven. One minute it's violent LOTR style orc butchery, the next it's fat dwarves falling over. Bit odd.
- Gets repetitive. The amount of dramatic people hanging off things until they are caught at the last moment is ridiculous.
- Very few of the dwarves are really characterised aside from Thorin and whoever Ken Stott plays.
- Everything involving Sylvester McCoy's Radagast the Brown, and especially his rabbit-drawn sled, is shit.
- Some of the warg CGI is a bit ropey.
- Maybe it's just cause I know the book but didn't know LOTR, but there was literally no sense of threat or danger.
- This is an issue in the book too, but more fucking eagles right when you need them.
- Stone giants? Is that in the book? Where were they in LOTR? They could have been well handy.
So overall, maybe a 7/10? Will probably see the next one.