The Hobbit is interesting from start to finish. There are distinct differences between the book and movie, mostly because Peter Jackson, the director of the movie, adds bits from notes Tolkien left after his death to make the movie stretch into a trilogy. From what I have heard, people who have seen the first movie in the trilogy fall into three distinct categories: Tolkien fans who love the book and the movie, Tolkien fans who love the book and despise the movie as a matter of principle, clueless people who stumble into the movie having never read the book and find the movie slow and confusing. The movie critics are in a class by themselves and did not appreciate the movie much, mostly because it was just so much fun to deflate Peter Jackson. My view is that if expectations had not been so high, everyone would have thought The Hobbit was a great movie. I liked it lots, and the book is without peer.
The film was nominated for Academy Awards for Makeup and Hairstyling, Production Design, and Visual Effects.