I should probably preface this review by saying that this is not going to influence you in any way to see or not see the movie (so, stop reading now! Kidding). You are going to see this movie whether I tell you it's good, awful, or somewhere in between. Much like the Potterites or the Twihards, if you are a huge LOTR fan you are going to go see it ... it's as simple as that.
I should also warn that I have seen three-quarters of the first LOTR movie, and also 100% of the third movie - but not in that order. I saw the third movie in my college dorm with a LOTR fan and was confused throughout the entire movie. I saw three-quarters of the first movie when visiting a friend in New Orleans last year (who is also a big LOTR fan) but it was late and I fell asleep with a quarter of the movie left, thereabouts. I tried reading
The Hobbit a while back but found it incredibly detailed, and didn't get all the way through that either.
What I can tell you, though, is that although
The Hobbit is a beautiful film, it was very confusing as well, at least to me, who is one of the LOTR uninitiated. I know about Gollum, and the ring, and the quests to destroy it, none of which I presumably needed to know for this movie, as it's a prequel, but some of the characters who popped up are from the other movies. In this film, we meet Bilbo Baggins, a hobbit (a short person), who lives a quiet life by himself - at least until Gandalf the wizard shows up one day. He convenes a meeting at Bilbo's house with many dwarves, and they then decide to travel to the Lonely Mountain to get back treasure that was stolen from them by a dragon. They bring Bilbo along as "the burglar," saying that because he's a lot smaller than all of them, he can creep around unnoticed. Bilbo doesn't want to leave his house, and comes along reluctantly, but soon finds himself on a great adventure.