Resident Tolkien Fanatic checking in. Yall want some battles- you got it.
I'm not going to rate it- or give away too many spoilers, because I can't hardly be objective. If you've read the books- you have to know by now Jackson took some serious artistic license on several points- Azog should never have been in any of the movies- the Dwarves killed him off in the Battle in front of the gates of Moria. Of course, you have to enhance a few scenes for screenplay drama.
I will say the White Council rescuing Gandalf from Dol Gildur is way cool- and again- us Lore Masters know they weren't really sure at the time if that was Sauron or not.
Complaints? Jackson could have done a better job of tying up the loose ends at Erebor. Positives are he did a pretty good job of linking the Hobbit into what happens 60 years later in Lord of the Rings.
So if you're a Tolkien fanatic it's must see. And if you're into action adventure, it's certainly worth a look.