Overall, it was very entertaining. I was pleased to see that the Dwarves weren't treated like Ghimli was in the previous Lord of the Rings films. They were impressively nimble and fierce fighters. Also, there was an (I think, intentional) gay bear undertone to the whole group which I found... interesting. ;)
I also like that Peter Jackson is delving into some of the unexplored parts of the book—mainly, when Gandalf leaves the party to deal with the necromancer. Also, we get to see Radagast, the Brown. He's not really how I imagined the nature-obsessed wizard, but I was still pleased to see him and understood why he was made the way he was.
That's my two cents. What did you guys think? Of course, negative critiques are welcome.