I have to say, it's much better than the first. In fact, this SHOULD have been the first trailer. No real reveal of Smaug's appearance, but the satisfaction of hearing his voice. It's a shame Beorn has been left out again, but I guess some things have to be saved for the movie itself. I'm also surprised that they've made Sauron's return so apparent this time. I figured they'd save that reveal for the third film.