No matter how stupid this might sound, I think that even though this could be considered a technical step forward, I think film is film and video is video and one of the things that makes a film feel like a film is how the motion differs from reality.

I would love to see The Hobbit in 48fps after seeing the 24fps version just because I'm interested in how it would feel to watch it that way, but I'm pretty sure I will prefer the 24fps version. I can somehow imagine 48fps would look a lot like the motion interpolation effect all new TVs have. Every time I go to an electronics shop they have TVs displaying films like Avatar, motion interpolated to double or triple framerate and it looks horrible.