Recommendation if you're seeing 'The Hobbit' *no spoilers*
I would not recommend seeing the HFR 3-D version (High Frame Rate).
The Plus Side: The perceived smoothness of people's faces helped retain 'eternal' look for the Elves even after a decade since last film.
The Negative Side: The visual quality is poor in two ways.
1) the color processing looks like a TV that's too much yellow and not enough blue. The 'greenery' was lime-ish, and when they camera panned back on what would have been a gorgeous New Zeeland vista, which in the past made us nearly gasp at the beauty, instead looked odd and unreal.
2) the wide-shots of a vista, say of forest with mountains in the background and blue sky, had the Side 20% of the screen looking as if it was a brown-ink etching of mountains overlaid on a sky background. This was replicated in many wide-shots and must be a bizarre failing of the HFR since I've never seen it before in a 3-D.