...but if anyone wants to play some of this online this summer I'll probably be online. Started a new file today and I think I'm going to put some time into it over the next couple months. Just add me and join my game if you want to race!
I was very skeptical going in because I don't think there's any reason it needs to be 3 movies long, but I came away pleasantly surprised. I didn't even notice the faster framerate (saw it in 2D maybe that's why) and thought the pacing was decent. I loved the added scene with Gandolf/Elrond/Galadriel/Sarumon and the climax with Bilbo and Gollum was A+.
edit: it did drag in a few places. Could have been a half hour shorter without much lost.