My biggest complaints about it revolve around "Prequel-itis". The same problems I had with SW episodes 1-3... mainly that since we have seen the outcomes already, the dramatic tension of any situation are lessened, since the audience already knows who walks away unscathed; and the fact that the foreshadowing always becomes a bit heavy-handed.
But I liked the movie for it's slightly more light-hearted feel overall (though still darker and more serious than the book...) next to LotR (which went from "Look how cute Hobbits are!" to "OMG, Wraiths!!!!" in minutes, with almost no pause.)
The Goblin cave battle was totally over-the-top... but I kind of appreciated it for exactly that reason. It was exactly what I wished and imagined all the D&D battle sessions I ever played would have looked like if filmed.
The troll scene bothered me for some reason... though it played out pretty close to the book. So did the conference at Rivendell... Though I understand why it was included, it seemed to drag the momentum down a bit.
I thought Bilbo's casting was fantastic... though I have the same minor complaint I had with the Rings movies is that Hobbits aren't supposed to be "Hollywood" skinny, but a bit portly... but it's not that big a deal.
The stuff with Gollum was spot on. That was the best part of the movie for me.
Native XWA.Netter (Nutter?)