I like many other saw the Hobbit last night at midnight. I thought it was very much worth it to go see it in 3D. The visuals were stunning, and it played along well with the beautiful landscapes of New Zealand.
They did a great job creating the underworld caves of the goblins. It looked just like I imagined it. It went weaving through the mountain many layers deep and fo course there was the Goblin King. In this great scene Gandalf slays the Goblin King in true epic fashion.
When Bilbo falls down to the bottom, everyone who read the books knows what was coming. Probably my favorite scene in the book, the game of riddles between Gollum and Bilbo. Gollum looks great and it was perfect to see a Gollum still with the ring briefly.
I thought The Hobbit was a great film, even keeping in the flaming pine cones, that I thought might be at risk. It really is a must see and I would suggest seeing it in 3D.