Very Disappointing, Considering the Original Book

Rating: 4/10 (22 March 2013)

If I didn't know anything about The Hobbit, and saw this film, I might have rated it a 7 of 10... i.e. not a great film, but fairly entertaining. But having first read -- and fell in love with -- The Hobbit in the 1960s, and having re-read it a couple more times, and then having really enjoyed Peter Jackson's Lord of the Rings films... well, this film is a real disappointment.
First of all, I would NOT allow any kids under about eight years old to see it; way too scary and graphic. The book in it's original form, on the other hand, could be told to a child in a way that would be exciting without scaring the snot out of them for no particular reason other than "look at the special effects WE can do!".
Let's go back to the original book: It is a wonderful morality tale, with characters carefully developed, a story that's both easy to follow and exciting and satisfying. This movie, on the other hand, is often confusing, especially if you are trying to relate it to the original story, and the characters are not well developed, if even developed at all.
My wife and I watched this movie for the first time (and only time I expect) in our living room, right after it came to the rental stores. I ended up getting up several times to get food, go to the bathroom, etc., and didn't even bother to pause it. My wife filled me in as to what happened when I was out of the room (special effects bad guys getting killed... more special effects bad guys getting killed... no real plot development).
OK, the special effects were not all wasted, and the Gollum vs. Bilbo cave scene looked great, even if the directing, acting and pacing were not quite up to par.
Another thing comes to mind: Thorin, the leader of the Dwarfs, looks like he is about six foot tall, fairly slim and well built in real life -- and just reduced in size via special effects in order to work. In fact, I just could not bring myself to believe that he was supposed to be a Dwarf at all (though I generally liked his character). And the other Dwarfs were so cartoon like as to be laughable, in a bad way.
Suffice it to say this is not a great movie, though the special effects can be impressive in places. If I could summarize Tolken's original book, in two words, it would be "great story". The same for this movie would be "fractured story".
If you ever read the great book "Clan of the Cave Bear", and then saw the (truely awful) movie version, you will know what I am trying to say about this film. The best I can think of to say about this disappointing film is that it may prompt you to read the original, great, book.