Yes, cynics can say that Peter Jackson turned a very small book into a bloated trilogy that misses the point of Tolkien's world completely. To them I say nay. Yes, the adaptation didn't necessarily need to be three films, but Jackson's Middle Earth is so meticulously created that the films feel like a reunion with old friends, not a punishing slog. As Smaug brings fire upon Laketown, don't be surprised if your cynicism gives way to wonder.
The Hobbit: The Battle of the Five Armies is not showing in any theaters in the area.