After seeing The Battle of Five Armies I stand by what I’ve said about the Hobbit movies before: They are generally good adaptations, not of the Hobbit directly or alone, but of the lore and mythos included throughout the Hobbit, LOTR, the Unfinished Tales, and the Silmarillion.
The movies aren’t flawless, but they are good and enjoyable and stand strongly as a series, though not as well individually. All in all, well worth seeing, especially for those who like the Hobbit, but understand that the novel itself is not without its faults.