I went to see the hobbit before Christmas and thought it was a brilliant movie,
I went to see it in 3D and the HFR,
I must admit the 3D was outstandingly clear but the HFR was abit weird, at first it looked like whenever someone moved that they were moving on fast forward. and it took quite a while for me to get used to.
Also in my opinion the HFR really made some of the CGI look abit basic, to me it even made some of the sets that i knew where real life (like hobbiton) look like model sets, although that was probably partially due to my eyes still adjusting.
As for the story of the film I thought it was really good,
I was never expecting it to be quite as good as the LOTR's but after i watched it I thought it was almost there.
I even enjoyed the Dwarfs singing!
From what i remember in the book the story gets better as it goes along as well so the next films should be even better!
Also just on a side note I watched the full extended LOTR's trilogy over christmas and Martin Freeman does a much better job of acting a hobbit than any of the actors that played them in the first three films!