I'm looking forward to seeing how this turns out, HOWEVER I think that conclusively a lot of people will have trouble seeing how it turns out due to the lack of facilities to project 48fps, which is a great shame.
Part of me welcomes Jackson's move, with the reduced juddering during movement and overall clarity of image being the two factors I look forward to the most, but at the same time (at this stage) I hope this capture choice doesn't catch on in the future- I think a big element of cinema must remain in the "Smoke and Mirrors" domain and I think enhanced visual clarity could be an element which could de-sensitise viewers and make directors take the cop-out choice of using CGI over physical costumes, sets and makeup. Its great to have something fantastical such as "The Hobbit" look life-like but I think the visuals could dull, in my opinion, the suspension of disbelief needed for such a film. In saying that it will of course have the backing from fans of the book!