I just saw the movie in HFR 3D and I was able to see the 3D effects despite my stereo-blindness.
I thought it (the movie) was wonderful. I've always preferred The Hobbit to the LotR trilogy, so it should come as no surprise that I enjoyed it more than all three of the LotR movies combined.
Truly magical. I felt like a kid again!
I can't wait for the next two.