So lets compare this with other 3d presentation so its fair. Compared with over the Tv blue red 3-D they had back when i was a kid on channel 44 this is way better. That was pointless and its only fun with people throwing pop corn at you from the back seat of your car. This 48 fps actually looked like something and the beauty that Jackson conjures up was maintained. Similarly I don't like the standard 3-D currently available in the theater. The trailers for other movies were shown in standard 3-D and looked like crap they often lit up for a second in the middle of motion. I don't know if that is a particularity of my eye due to an injury and effect of my cross dominance. This did not happen with the 48fps so it was at least something i could sit through.
I am going to make a special point of actual 1950's era polarized movies as I have seen a couple at the Stanford Theatre. I saw Dial M for murder and House of Wax in traditional dual projector polarized 3d. These were better than the 48fps Hobbit for me. I don't know what it was but if you shifted your head at an angle things went all wonky. I do not remember that happening with the movies at the Stanford Theatre. The 3-D also seemed better with people actually tripping out at a paddle ball effect.
Some people have talked about the absence of ran on characters faces during a rain scene. They apparently filmed this with actual rain or simulated rain. Many folks indicated they didn't see rain on their faces, which is sort of crazy right. I don't know what it is but the camera almost gives this smoothing to faces.
Generally while the Hobbit didn't suffer too much from the 3-d other movies certainly would. You could see a few effect going for cheap use of the 3D with an arrow here of there. That sort of got old fast to the point where I had almost no tolerance of it. I could see lesser directors turning it into The Treasure of the Four Crowns or Jarred Syn. There was one scene in bag end were a character was closer in depth but the character farther back had focus, this was weird. It almost broke the language of film that has been established over the last century and felt jarring.
Finally I don't dig recycling the glasses. I would rather buy new glasses that were my own as the ones the Mercado AMC gave use were disgusting. They looked like they came from a 3-D porno or something equally awful.