The trailers we've seen so far give me hope - a new one was just released earlier this week. Please watch it repeatedly if you haven't seen it yet:
Yeah, if nothing else, it's going to be beautiful. I'm not positive how I feel about Legolas being in the movie but I'm optimistic it will work out. Speaking of, Orlando Bloom and Ian McKellen made an appearance on The Today Show earlier this week to discuss the upcoming movie. They're endearing and my favorite part is when McKellen corrects the hosts' pronunciation of Smaug - you can hear them talking over the beginning of the trailer. The thing is, I think she's right (she says Sm-ow-g like in this illustration and like Peter Jackson says it) and McKellen says otherwise. Poor Al Roker just says Smog.