Gosh, I enjoyed The Hobbit. I went twice.
In some ways I prefer it to the LoTR films. Without the ponderous weightiness of that story, it was able to revel a bit more. I liked that they brought in a more coherent narrative (the dwarf homeland stuff, the links to LoTR), but I think they did well not to let it get bogged down in that stuff. The books are a different beast from the trilogy, and I think the writers did a good job of replicating that. I got the impression the team had learned a lot on/since LoTR.
I am a complete sucker for all the end stuff with 'Bilbo! You wrecked all the shit! But it was awesome.' moment. Little Bilbo Freeman with his little sword standing between the big orc and Thorin... I was practically blubbering.

