Peter Jackson reveals running time

to hear this first film will be around 160 minutes. The EE will probably end up being around 190-200 minutes.
I do also think PJ will use more material as we get along this trilogy, just as with LOTR. There and Back Again could easily become a 4 hour EE then.
 
So around 2 hours 40 minutes is without the credits. Nice length! I was one of those fearing that the change from 2 to 3 films might result in shorter movies.
 
Maybe including the credits (?), would justify Peter Jackson first saying that it would be ten minutes shorter than FOTR, then saying that FOTR was 3 hours, and then saying this is 2 hours and 40 minutes. [;)]
 
Lots of Rivendell dialogue scenes, complete with flashbacks, maybe...

Parts from the book are -

Shire
Trolls
Rivendell
Mountains
Goblin Town
Wargs

Extra material could amount to -

Frodo/Bilbo
Smaug/Erebor/Dale flashback
Gandald/Radagast/Morgul-blade
Gandalf/Dol-Guldur
Azog flashback
White Council meeting

This is going to amount to a LOT of talking and not much action. Of course, some of the flashbacks, if they happen, will contain action, though only briefly.
 
I just recently relistened the LOTR commentaries. They made the point a lot of times how they needed the story to get going, to not linger too long.
 
FOTR vs AUJ

Prologue - Dwarven flashback (attack of Smaug or Azanulbizar)
Weathertop - Troll scene
Watcher in the Water - Stone Giants
Moria - Gollum & Goblin Town
Amon Hen - Out of the Frying Pan

Seems about equal to me?
 
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