I confess I enjoyed the first two films but the third has such bad pacing and you can tell that studio's meddling really hurt it so much that its limping behind all of the other films. I'm not mad at all at Pete Jackson as it wasn't his fault as the studio forced him to shoot at a super fast pace and he ill during shooting and had no time to sit and think things through in depth and it just makes me sad as I know this man is a great director and loved his LOTR movies and I felt he was denied making a great set of films due to them. Don't get me wrong there are fun moments in this film and some enjoyable fights it just sad that its really over shadowed by some real sore points.
The other big problem in this movie is Thorin because he starts to loose it in this movie and gets gold sickness and I had real trouble trying to sympathize with his character because in the other movie he wasn't very nice to Bilbo at all and belittled him so when his downfall came I just couldn't root for him. Also his madness is never fully explained everyone goes oh its gold sickness like his grandfather. Yet you know Bilbo has the one ring and you know from the previous movies what it does to people and how it messes them up and your never sure because you also had Smaug saying that the Arkenstone will drive him mental. Even less is explained about how he suddenly manages to over come this as it portrayed as him suddenly breaking it's hold in less than a minute which makes no sense as it's an implied magic mental illness.