I think you will find that two movies are being made of the Hobbit. If you read through the threads that have been pushed off of the front page you will find the subject discussed at length.
Myself, I'm thinking this is the last new Middle-earth I'll see, seeing as how the rights to the rest of the stories are probably never going to be granted. So, anything that can be shown I want to see.
Yes there will be 2 films. Originally there was going to be 1 film covering the entire events of The Hobbit and a bridge film. It is believed that there were legal concerns in doing a bridge film, so they reverted to telling The Hobbit in two parts.
what! you mean that we won't get a satisfying ending to the first movie? Not like Pirates of the Carribean 2, I hope. That was very annoying and unsatisfying.
.... because they obviously can't do a 'proper' conclusion halfway through so it's more likely to be a cliffhanger type ending. Which could be annoying.
I wouldn't have minded seeing a bridge (not literally) movie though, I was disappointed when it went [unsure]