The general consensus is that Jackson's
The Hobbit trilogy isn't a patch on his
Lord Of The Rings movies, and for the most part I would agree with that...though it's important to note that it was really never going to be.
The Hobbit is a charming, but slight children's book that is held in very high esteem for introducing the world to Middle Earth, and setting the scene for the infinitely more complex, adult orientated
The Lord Of The Rings. I have always, and still like the novel a great deal, but I don't think anyone would argue that it is seriously lacking in characterization (beyond maybe Bilbo and Galdalf) and doesn't really have much of a climax to speak of. In those regards, at least, Peter Jackson has actually improved on the source material. Sure, his decision to stretch the slim narrative out to fill 3 very long movies is never quite justified and there is a lot of filler, but -- in this last instalment particularly -- most of his additional character development (and indeed, additional characters) bring with them an emotional resonance that simply wasn't present in the book.
After an incredible opening set-piece which I won't spoil for anyone who doesn't know the story,
The Battle Of The Five Armies shifts its focus to Thorin Oakenshield's descent into paranoia and madness after being struck with "dragon sickness" following the recovery of his treasure horde. This also leads to several factions vying for their share of this treasure, and inevitable war looms. Elsewhere, the While Council (Galadriel, Elrond and Saruman) attempt to rescue Gandalf from Dol Guldur, and draw out Sauron in the process. That's all wrapped up pretty quickly though, and the majority of the film's running time is spent in and around the lonely mountain of Erebor -- a first for any of the Middle Earth flicks, which are all basically road movies. When the weapons finally clash, it's initially exciting and involving, before getting a little tedious...and then actually becoming better than ever. This is a LONG battle, and Jackson detractors will surely accuse him of dragging it out because he didn't leave enough material left over from the novel to adapt. It's hard to argue, but that doesn't make it any less thrilling to witness. It's also the first time we're not dealing with ultimate good Vs. ultimate evil. In fact, only one of the five armies could be considered "the bad guys", and this adds an element we've not had in the previous films in that our sympathies shift from character to character. Even Bilbo isn't beyond a spot of skulduggery, though his heart is always in the right place.
Which brings us to the Hobbit of the title. Many have criticized Jackson for, arguably, making Bilbo more of a supporting character when he should be the focus, and though it is, once again, hard to argue with that, the fact is his arc just isn't at the centre of this story. That's not to say he'd sidelined, as Bilbo plays an important role in the outcome and Martin Freeman is as great in the role as ever. There is no weak link in the cast in fact, and (as I alluded to earlier) more screen time for the likes of Kili (Aiden Turner), Thorin (Richard Armitage), Thranduil (Lee Pace), and Tauriel (Evangeline Lilly) goes a long way to making this one of the most emotional, and ultimately bitter-sweet entries in the saga.
There are still problems however, as Jackson is unable to resist indulging his very annoying penchant for physics-defying feats and seriously OTT action. Yes, this is a fantasy film, but we still need to be invested in the reality that's been created for us, and some of the more video game-like CGI and situations (Orlando Bloom's Legolas does his best Super Mario impression at one point) only serve to take us out of the movie. There's also some inexplicable focus placed on the character of Alfred (the Master of Lake Town's toady), most likely in an attempt to add a bit of comic relief to a very serious, predominately downbeat story. It doesn't work.
That aside, this is still the strongest film in The Hobbit trilogy, and I personally enjoyed it more than The Two Towers which I always found to be the weakest of The Lord Of The Rings movies. If you weren't a fan of the previous instalments this one is unlikely to make you one, but everyone else should prepare themselves for an incredible spectacle, and a genuinely emotional clash of friends and foes to bring a more than satisfactory end to what has been an amazing saga.