Peter Jackson's movies of The Hobbit are rounding out the majority of the backstory of Tolkien's Middle Earth. Taking a short book and turning it into 3 full length movies was the real mystery many of us fans had been wondering about. This first movie has taken chunks of materials from the Appendices and The Silmarillion and provided more content than every included in The Hobbit.
If you noticed, Frodo in his blue shirt there in the beginning will be turning up at the end of the third Hobbit movie as we'll be ready for Bilbo's birthday party as The Fellowship of the Ring movie starts. Nicely done… but then again Jackson and crew did a grand job the first time around with even a larger amount of material to condense.
Rumor has it that in the second Hobbit movie, Smaug will be killed off which leads many to wonder what will be in the third movie other than the Battle of the Five Armies and Bilbo's return home. (IMDB has a reported rumor that Stephen Cobert has a role in the project somewhere, one hopes that Cobert a former D&D player as a kid and a true nerd among us all will be able to find a role somewhere in the movie. Even if he gets torched by Smaug after one line of dialogue!)
Glad to see The Hobbit finally being made as it had many legal stumbles before coming to the theaters!