I'll start with a couple things that I'm a bit unsure about.
First, which I might have mentioned in a blog a long time ago, what is up with Thorin's wimpy beard? I mean, this is the King of the Dwarves! Give him a beard worth a dwarf. Weta did a great job on Gimli, I was hoping for similar greatness in looks from Thorin. No Salsa Dancing Dwarf beard. Okay, I'm done ranting on that, I'll still like him I'm sure.
Second, what was Galadriel doing with Gandalf's hair exactly? There doesn't need to be romance in these movies, but if Jackson wants to take some real "creative liberties" than he should do so with maybe Bard. Gandalf is a Maia (basically an angel) and wouldn't be worried about romantic love affairs.
Okay, now on to the awesome parts of the trailer.
First, other than a few of the dwarves beards, I love them! Their armor is awesome and I'm excited to see some dwarves get some love this time around, rather than all the elf love that was going on in Lord of the Rings. Dwarves have always been my favorite fantasy creatures, mostly because they build awesome underground kingdoms and the beards.
Second, the song is great! Tolkien uses songs in his writings quite often, which I know is difficult to translate into a more adult, non-musical, blockbuster. However, if the trailer is any preview, Jackson will incorporate whenever he can. There is nothing silly about the song and it makes the 2 minute trailer feel epic.
Third, we briefly see the lower parts of the Trolls in Trollshaw forest, but that brief image makes me really wonder how this will be handled. The trolls didn't do any talking in LotR, but they do a lot of talking in the Hobbit. I'm curious whether Jackson will just make it a small battle or be more appropriate to the book and have the dwarves all be captured by the Trolls.
Fourth, it is so great that many of the previous actors are back! Specifically Ian McKellan and Cate Blanchett! Nothing like seeing the continuation of the story, well pre-continuation by having the same actors. Cate Blanchett, specifically in the Fellowship of the Ring, is powerful!
Fifth, I just got done watching Sherlock Holmes BBC Series with Martin Freeman in it. He is the perfect casting for Bilbo. Better than Elijah Woods for Frodo in LotR, because he is actually closer to Bilbo's real age.
So to finish up, if you can't tell, I'm looking forward to the Hobbit. Sure it is just 2:30 seconds of footage, that may or may not even be in the movie, but yahoo! I'll be there at 12:01am on December 14, 2012 to start the journey! In the mean time, go out, read a good book (I'm talking about the Hobbit and LotR here) and have a Merry Christmas!