I finally saw the Hobbit, in old fashioned 24fps. The comments here and elsewhere were not very encouraging about the 48fps - though I still have an academic interest in seeing it in that format. Maybe after my next paycheck. And I don't know if I was primed to notice or it was particularly glaring, but the motion blur in some big scenes was quite irritating.
As a movie, it was...entertaining. But I couldn't help but feel it had too many of the worst characteristics of the PT. Maybe I'll dig up my Hobbit thread to complain in there :P