Missing plot elements? Curious casting? Dialogue not found in the books? Notable changes to well-known novel scenes? PJ could have gone this route if all he wanted was to "re-interpret" the books.
I like in the first part where Gandalf gets an inch from Bilbo's face and stares.
I at least get a sense of fun from this. It obviously doesn't take itself remotely seriously, which, considering other "adaptations", works as a plus.