Here's a synopsis of why "The Hobbit" done correctly will be awesome as shit:
1. Lots of dwarven banter
3. A badass dragon that likes to hoard gold and kill dwarves and shit
4. A great view of each of the different cultures. LotR doesn't focus on the actual elven/dwarven/human societies, whereas they are critical pieces of the Hobbit
5. Andy Serkis is reprising as Gollum
Also, read The Hobbit at least. If you can't stand dense Tolkien-literature, I understand and sympathize. The Hobbit is much easier to read than LotR.