I just got back from watching it and I can honestly say I was impressed. There was also a lot more humour and laugh out moments than I expected (some of which I'm sure a lot of purists will not approve of).
The difference between fiction and reality? Fiction has to make sense.
I was at the premiere at 12.12.12 0:00... saw lots and lots of people dressed as hobbits, one as Gandalf, it was huge fun..! Only I wasn't there to see the movie, I was studying on a bench in the mall Can't wait to see the movie, though! Sjoerd and I are going... we are, right?!