We finally got to see the Hobbit yesterday (twice before we arrived only to find they had changed the time of the show so we postponed seeing it).
My take? Faster and better than number one, that is if you like fast adventure movies (but as a Tolkien fan, I loved the songs)... But without a good ending, it left one feeling incomplete.
In other words, unlike number one (and unlike the Two Towers in LOTR triology, where Sam ties together the battles and the coming ones with the "window" speech) it doesn't really end, it gives one a "wait till the next episode" feeling...
but it was worth it, even in 2D