I didn't know about this version and thanks for the link. I'll watch this too.

I've just watched the Peter Jackson's movie and it is almost unrelated I would say to Tolkien's book. While I was watching it I wondered why he didn't keep the original plot and he mixed and matched it with subplots from other Tolkien's books or stories. The Hobbit is a book for children, so all that excess of violence, beheadings and battles are unsuitable in a movie with the tittle of the book and for children audiences.

Now, if Peter Jackson wanted to sell this movie to a more adult audience then he had no reason to add the songs, the comic Troll characters and the Brown Wizard with the little animals etc, half of The Hobbit's plot so to speak. In such a case it would be better if he had tried to make a movie based on any other Tolkien's stories or just the Silmarilion that is by far a more complex, interesting story, at least for adult audiences.

I just gave it a watch. I'm not a die-hard or scholar of the uncut edition, nor am I loyal the novel..

There were only a few hard cuts for most of it. The story seemed (mostly) retained, but I think the final battle lost a lot of its logical progression and the emotional impact of key moments. I would've been more loyal to Peter Jackson's vision, but I understand this is quite a lot shorter than the full trilogy, so it's a pretty decent chop up, especially, I imagine, if you're nostalgic about the book.

I had to pause it for a behind-the-scenes of Smaug,.. baddest CG character ever.