The dinner scene at the start could have been shortened at little, but otherwise I think this worked very well. Indeed, having watched it, I wonder if it would have been possible to film it as a single movie. Or, I expect it would have been possible, but it would have been close to a 'training montage' of a movie. This is very much a loving, lingering homage but that just means plenty of the visual spectacle which is half the reason I watch such movies.
Radagast's rabbits were way awesome.
Jackson chose to include a few visible dwarvish women in the crowds escaping from the Dwarven city, and there is a very powerful scene from Galadriel, but I think I'm going to continue with my theory that Fili and Kili are actually what female dwarves look like, just to balance the overwhelming levels of Y chromosome.