My single largest disappointment of 2012...why 2 more? I have no idea

Rating: 2/10 (14 December 2012)

You would have more fun reading the book.
The characters are at first compelling and anticipation grew - the story then became tedious, repetitive and boring. Knowing that the story has no major crises and mid story climaxes and no big payoff at the end of the book makes one wonder why anyone would want to see the next 2.
Yes, seeing Bilbo is fun. Gandalf is as captivating as ever though he has nothing to do of any significance. But there is only Gollum after that with each and every other character appearing to be a Tolkien extra whose actions, present circumstance and potential future perils are of no interest.
I saw the midnight showing at the Cine Capri - enormous screen with exquisite sound and a great venue for 3D. The audience was enthusiastic for the first half of the film but almost silent through the second half.
The disappointment was palpable, the laughs of pleasure turned into laughter of mockery. The after show conversations I over heard were either neutral or negative.
Like the American attempt at the Girl with the Dragon Tattoo which covered one book with one movie and then died a quiet death this first of 3 parts may place the 2nd and 3rd parts into the art film theaters where cult films are shown.