Seems like it could be pretty awesome. More magic is always nice, but what's there has great potential:
Think about Smaug taunting you as you play (as he taunted Bilbo in the movies). The individually-controllable drop targets could be the chinks in Smaug's armor...the diverter as his tail swishing the ball away at key moments...all with appropriate voice work and video. In the story, Smaug is eventually killed by an arrow in the single missing plate of his armor. I imagine that's how the pin will play--hit the down drop target at the right moment. Could be pretty thrilling to play.
I admit I'm not a great player, only average. The overall effect and immersiveness matter more to me than deep playability, but it sounds like it has that too with so many modes.