Quoted from DarkWizard:The Hobbit is basically getting a chance to "stretch out" and could just include more stuff that's in the book instead of it having to be cut out. I don't think he has to artificially fluff too much.
When the LOTR trilogy came out I couldn't get enough of the films. I loved that they released extended director's cut versions of the films. But with the Hobbit I'm finding the exact opposite - he has stretched too far. I recently tried to watch the Hobbit for the first time and shut it off out of extreme boredom before they left Bilbo's house. It feels like there was no restraint or discipline in making this film/telling the story. Its beautifully well done, but its just overflowing with too many ideas and minor details from the creative people.
Funny thing is that I've read the Hobbit multiple times and really enjoy the book, but I've never been able to make it past the first book in the LOTR trilogy.