Couldn't hold out. I bought the Extended Edition the other day.
Now while I wasn't too bothered that these would be made into three films I have to say this extended edition doesn't really make the film any better the way they did for LOTR. It doesnt make it any worse either and I dont think it hurt the pacing as there wasnt actually that much added really. I thought the Goblin King's song would have been a bit too much but it was actually pretty good and I liked it. The extra dialogue with The White Council regarding the one ring, was a nice bit of extra foreshadowing too but beyond that the film doesnt really benefit from the extra scenes.
So yeah if you didnt like it the first time round, nothings going to change and if you did like it, you still will but there wont be much extra that will make you enjoy it even more. The meat of these extended editions that make them worthwhile purchasing comes with the extras if youre into all that stuff.
Can't wait to see Desolation Of Smaug now.