Absolutely breathtaking.

Rating: 10/10 (17 December 2012)

I had already posted my thoughts on this film after seeing it in 2D, but thought I would now do so after seeing it in 3D 48 HFR last night.
CASTING The LOTR films are my favourites of all time, but I have always thought there were weak points in the casting, notably of the Hobbits. Whether it is because PJ didn't have the choice, or the knowledge, to get the right actors for LOTR ten years ago, I don't know. In any case, the casting for the Hobbit is brilliant. Martin Freeman is superb as Bilbo, as is Richard Armitage in the role of Thorin Oakenshield. Sir Ian McKellen is wonderful, as can be expected. These actors simply have the range to produce the right sort of work for the film, and to do the characters justice. The other characters were all pretty well cast (though of necessity their personalities could not be shown much, which is the case in the book as well). After Thorin, my favourite among the Dwarfs is Balin, played by Ken Stott, another fine actor (I didn't actually realize it was him until after I saw the film). Thandruil looks extremely impressive, and Elrond and Galadriel were the usual pleasure to watch.
MUSIC This connected effortlessly with the LOTR films. The song Thorin sang at Bilbo's house is beautiful. All of the music was perfectly in tune with the scenery and action.
PLOT This was much smoother than that in the LOTR films, where the action jumped about from place to place (due to the story, I know, but it was a bit distracting).
VISUALS These were simply stunning (and all the better for 3D 48 HFR in my view).
FRAME RATES While I very much enjoyed the film in 2D, the 3D 48 HFR format made the film extraordinary. Particularly magnificent were scenes like Erebor, Rivendale (the waterfall in moonlight, for example), the eagles with the scenery around them, Smaug's lair with the tinkling gold, Riddles in the Dark, and the breathtaking views of the mountains as the company made its way through them. The Goblin city improved immensely with this format. The scenes in Bilbo's house were so sharp – you could see every detail of beards, hair, costumes and artefacts. It truly felt as though you could immerse yourself in the experience.
I really don't get the criticism levied at the higher rate format at all. There was no blurred vision, no headaches, and I didn't have to get used to the format for an hour or so. I don't know: perhaps people who complain about these things need to have their eyes tested? The only time that things got a little bit blurred was in the close-up shots of Dwarfs battling with Goblins. This is, however, new technology, and I am sure such things will eventually be ironed out. (Perhaps these particular incidents need to be shown in a yet higher frame rate, or maybe the actors are moving too quickly? When wielding heavy swords surely the action must be quite slow?)
All in all, the film is an absolute delight, and I fully intend to see it again. These were also the thoughts of the people who were with me. The film in fact made such an impression on me that I dreamed about it last night (unusual for me).
Since I rate films according to the pleasure they give me, rather than focusing on nitpicking details, this is a 10/10 for me.