Review Detail

Sorry for the long wait for the review, I finally finished the last episode last night.

Audio/Video Quality
Yep this was all good, I didn't notice any audio or visual quality issues.

Visual Editing
The visual editing was mostly good, however in some shots the cropping made the characters look a little stretched. It wasn't really a problem most of the time, only sometimes when the shot was a closeup.

Audio Editing
Again, the audio editing was mostly good. There was the occasional awkward transition, but these were very few and far between. The only scenes that had noticeable edits were in the 'Out of the Frying Pan' sequence and the Battle of the Five Armies. However, these are very difficult scenes to chop down, so it's understandable.

There were some really cool edits, these kind of apply to both visual and audio editing, but I'll just mention them here. I really liked the way you changed the scene where Thorin goes back to normal. I didn't even notice that the scene had been modified until the end when I realized that Smaug wasn't in it. I also really liked the flashback to the Carrock when Bilbo gets knocked out, it made the tragedy of Thorin's death much stronger and made for a really good way to introduce the eagles into the battle.

Narrative
I think you made really great use of the TV show format, every episode ended in a perfect way where it felt like an ending but I still was anticipating the next episode. However I do have some small nitpicks.

One thing I noticed in the scene where Thorin goes back to normal is that some of the stuff he remembers people saying to him are from scenes that were cut from the edit. I think it was just dialogue from the scene where him and Dwalin are talking in the throne room. This could be fixed by just including that scene right before the gold room scene.

I also found it a little strange that Bard pulled out the black arrow from his living room, but seemingly forgot to bring it with him to kill Smaug and needed his son to bring it. I understand that this is difficult to avoid due to what happens in the original films, but this could maybe be fixed by just removing the part where Bard reveals that he had the black arrow all along, and it could be implied that Bain grabbed the black arrow from the Laketown armory or something. This could be a payoff from the scene where he tells the dwarves that the black arrow knocked off one of Smaug's scales. These are only very minor flaws, the narrative as a whole was very enjoyable.

Enjoyment
I very much enjoyed this edit. It did a good job in splitting up the Hobbit movies in a way that felt right with the format, it didn't just feel like 3 movies split into 5 parts. A very well done edit!