It's the moment everyone's been waiting for, the first extended footage of Peter Jackson's hugely anticipated film 'The Hobbit,' the story that precludes the mammoth 'Lord Of The Rings' trilogy. With production having gone on for a considerable amount of time, fans have grown desperate to see anything from the forthcoming picture, a pressure that surely any preview footage would struggle to live up to - and what as surprise, it hasn't.

Variety reports that Peter Jackson gave the world its first taste of 'The Hobbit' with a ten minute preview at Las Vegas' CinemaCon and divided critics. Shot at 48 frames per second, the format has received rave reviews from director James Cameron - it will be 'The Hobbit' that debuts it for the first time at cinemas at the end of this year - though punters weren't too impressed. "It reminds me of when I first saw Blu-Ray, in that it takes away that warm feeling of film," one chain owner said. "It looked to me like a behind-the-scenes featurette."

Another commenter told the Los Angeles Times, "It looked like a made-for-TV movie. It was too accurate - too clear. The contrast ratio isn't there yet - everything looked either too bright or black." This isn't quite the riotously appreciative reaction Jackson would have been hoping for, and he has around eight months with which to rectify it.