After rereading the book, what had been vague feelings of discontent are now much more solidified. Basically, Peter Jackson got the book wrong. Now, I don't mean that I expected him to follow the books scene by scene. I loved the Lord of the Rings trilogy that he created (moreso with the extended versions) and he certainly took artist licence with them. However, with the Lord of the Rings trilogy, the movies still felt faithful to the spirit of the books. Items that were changed made sense due to the change of medium.
This was not the case with the Hobbit. While the actors' performances were amazing, and some elements certainly added depth to the story, so many other things were changed in ways that seemed to ignore the spirit of the book. While I was most disappointed by the changes with Beorn (which were slightly mended in the extended version), the most grievous error (in my opinion) was the creation of a main villain in Azog. It made the movies too similar to Frodo's flight from the Nazgul rather than an adventure with various dangers as the book portrays it.
In making the story about a relentless hunt, the movies miss several of the key themes and symbols from the book. JRR Tolkien's story was an allegory that spoke about the time in which it was written (between the world wars). The movies not only lack that element, but they miss the opportunity to say something about our time as well.
Having just finished the book, I do want to see the movies again as it's been over a year since I saw them and there are parts that I remember imperfectly. However, I don't think that I will ever want to run a full movie marathon on the Hobbit trilogy followed by the Lord of the Rings. The two are simply too disconnected in my mind.