I liked it, but I was somewhat irked by just how far they strayed from the event of the books.
Most off all, this beginning love between Kili and Thauriel is just ridiculous.
Set of books? How about just "The Hobbit"? :P
I actually like what Jackson is doing with the Trilogy, hitting the real length and breadth of the story of The Hobbit, while digging in to the events surrounding the events of the same, which I feel makes The Hobbit an even better prequel to LOTR.
For example the Necromancer and the return of Sauron are only hinted at in The Hobbit, but provide a VERY important backdrop to the coming events of LOTR. The weird romance sub plot's kinda out of nowhere... but other then that this shit is cash and I am fully on board with what Mr. Jackson is doing.
Yeah, the whole political situation with Laketown kind of irked me. Bard being some sort of revolutionary and the master being the goblin king of the humans. Just over the top. Really wish they kept it like in the book for that part.
My thoughts on Fili, Kili and Taureil. Potential major spoilers for those who have not read the book.
Honestly I really wish they kept to the book for this and not split the group. I see what they are trying to do. Thorin goes bananers over the Arkenstone (its his version of the one ring with Aragon, but going down a "what if" path if Aragon was seduced by the dark side). Fili is next in line when Thorin dies (Thorin mentioned it) but will probably die in the big battle of 5 armies. Kili next in line becomes king under the mountain. Kili and Tauriel mend relations between Dwarves and Elves (probably get married or some such). Having a kin-ship with Bard, who undoubtedly will become ruler of Dale after they rebuild it) will strengthen all 3 ties more so after the battle of 5 armies.
And yes Legolas was more or less for the fans. Calling Tauriel Jar Jar is a bit over the top to be honest. She is no where near as annoying or racist a caricature. I do agree that she is more or less a forced love triangle (not unlike in LotR arwen-aragorn-eowynn they teased at in two towers...which was dumb!). Her only role is to show a badass woman character for female audiences, and to be shoed into a love story. One of the actresses request was for there not to be a forced love story...only for them to put on in it after she signed up for the roll...