Yep. And the fact that he changed how (or rather when) Sauron met his end (in the EE) kind of ticked me off and tipped Jackson's hat at the fact that the final bit of "homecoming" would be left out. As a movie I am not sure that final act would have played out as well though, so I understand why he chose not to do it that way. Leaving out Tom Bombodil was another example of something that would be cool to see, but doesn't really advance the story quickly so I understand why he left it out.
I'm curious to see who will play Bilbo in this one. Still Ian Holm?
SMAUG is what I can't wait to see