I liked it a lot. I'm glad they turned this story into a movie, and I was pretty happy with how faithful they were to the material (found in the Lord of the Rings appendices).

However...

1. I don't care for the anime style. I don't mind that the movie was animated, but that particular style is not my cup of tea.

2. I wish they would have showed more Hammerhand. The coolest part of his story is how he stalked Dunlandings in the winter nights while his people were protecting themselves in the Hornburg. He would leave the fortress every night and kill his enemies with his bare hands. They definitely talked about it in the movie, but I wish we could have seen it more. I.e., I wanted it to be more violent.

LOTR fans will like it; non-fans probably won't. It has very little connection to anything ring-related (though they tried to shoehorn a little something in there), so it'll be tough for the audience to connect this movie with the LOTR franchise.