I grew up with the animated adaptation
of The Hobbit
, and I was very excited for the first movie when I went into the theater.
When I left the theater, I was pretty satisfied. From the beginning, things get off to a sort of slow start, but I can forgive that, because it's setting up the characters, setting, and story. Once Bilbo's left the shire, things start to get interesting with awesome CGI effects, dramatic tension between Bilbo and the dwarves, and the constant threat of fantastic creatures, such as trolls, rock giants, and goblins.
Overall, the movie was satisfying, and I'd recommend it to any fan of the book. The pace was a bit sluggish, but I believe we're in for a treat once the second one comes out.