I agree with your conclusion. I'm happy to have seen it in 2D/24fps as i'm sure the 3D would have bugged me out after a short while. It isn't suited for the storytelling and i think storytelling is what they forgot about.. How to best tell the story of the hobbit. But perhaps 12 year old kids would love it, but 2:45 running time seems long for kids. Too bad, lost opportunity... where as perhaps the next TRON in 48fps 3D would be fantastic.. as long as it has a good story. Story Story Story.