I'd say that it was better than the 2nd movie for sure, but unexpected journey is still the best. the good parts were where the actors were actually acting with each other, like bilbo and thorin. thorins transformation was pretty decently handled, going from good to bad and then to redemption. as was bilbo in growing as person. so when glimpses of the actual source material shone through, it was good.
too much focus on the battle and too little on the dialogue and the aftermath of the battle. too many crazy monsters and such creatures used for one or two scenes then completely disregarded. even one of the 5 armies was more or less disregarded. the worst parts were all these bad comic book villains roles for smaug, bolg, azog etc. also the shoehorned romance/family scenes. legolas of course had some ridiculous actions scenes, but i guess that's just to be expected now.
overall it was decent, maybe a 6/10, thanks to the dialogues of bilbo, gandalf and thorin.
wizard battle with nazguls+sauron was kind of neat, but just so out-of-place.