I watched "The Hobbit: An Unexpected Journey" yesterday in 3D HFR and was disappointed by the experience. The 3D HFR is technically impressive but it prevented to immerse in the story.
Vincent Laforet provides a good explanation on why 3D HFR was disengaging me from the movie. I could not better explain my disappointment. Like him, I could watch it again in 2D to have a better visual experience but I did not enjoy the story enough. This is not the Lord Of the Ring's "Phantom Menace" (no Jar Jar Binks in sight) but the script could have been tighter and the characters more developped.
I did not think there was enough material in The Hobbit book for three movies. Watching the first one confirmed my opinion.