Quoted from mattsmith:

First reaction, based on the pics alone the game looks good but visually doesn't seem to come together well. You have what looks like a random dragon that doesn't convincely look like it is apart of the landscape of the game, a horse shoe looking ramp in the center and a book which hides the entire river that the barrels are floating down. The book to me looks like a useless item on the playfield and I'm sure will be the first thing to be replaced with a mod. The color of the targets below the book just don't seem to balance well with the rest of the game either.
The drop targets are interesting but I don't get overly excited about shooting drop targets as a large part of the game, which, seem to take up a good portion of the playfield and I am assuming plays a large part of the game. Talking heads have also been done before.
I do think the LCD screen, sound and modes will bring a lot of value to the game.
Also I have read many of the sculpt comments and I really feel the sculpts look slightly above average but not anything I would brag about.
Overall, at first glance, the game looks good but I think WoZ and TBL look better. I think WoZ and TBL have more innovation in their game as well. With TH it looks like a lot of targets and shots. Maybe that type of game just doesn't do it for me. The game looks flat, the toys don't blend in well or in the case of the book don't lend anything to the game. I feel the theme could have been better represented. There really isn't anything that pops for me when I look at the table.
I do have a Hobbit Pre-Order. I do feel it's going to be a good game but there is a lot of other things I can spend 8K on. I'm hoping some videos will raise my level of excitement of the game. I could be completely wrong about how I feel about it after playing it.