Very great movie. I kept thinking "This is probably where they will end it" only for it to continue on. At first I thought it would end before they went to Goblin Town (thus before Gollum) but then I remembered that part was in this movie.
My ONLY complaint, is that they didn't have something along the lines of this song:
http://www.youtube.com/watch?v=ogTDa-vG2MQ
They included "That's what Bilbo Baggins hates" and "Over the Misty Mountains", which were both in the book, but no inclusion of Down to Goblin Town, which was in the book. Maybe it was a portion that had to be cut and will make it into the extended version of the dvd. It was the best part of the old 1977 animated film, and I was so hoping for something similar in this movie. My only disappointment.
The Goblin King had amazing vocal clarity, which was nice. And he was pretty freaky looking. I didn't think that I would actually end up liking the Goblin King as much as I did. And unfortunately, my theater didn't have the 48 framerate, which I was looking forward to as well.
Oh, and being nearly 3 hours long, definitely made spending the $7 for a matinee ticket (11:30 am showing) well worth it. "$7 dollars??? Holy shit that's cheap!" Yeah, I know. But expensive as hell when you compare it to 3 years ago, when an early (pre 430pm start time) showing used to cost $4.50