I always liked Ursula Le Guin's description of reading the trilogy.
...I read the three volumes in three days. Three weeks later I was still, at times, inhabiting Middle Earth: walking, like the Elves, in dreams waking, seeing both worlds at once, the perishing and the imperishable.
The Hobbit is a lesser work, but enjoyable on its own. The movie should be fun, though Peter Jackson made some egregious changes to the trilogy that ruined it in places for me. Too much of a purist I guess.