So this is what I thought of the first two episoded.
1. I was irritated by the prologue. It made it seem like the Noldor just happily sailed over to Middle Earth to fight Morgoth. No mention of the Silmarils, no mention of the Kinslaying, and no mention of the oath. The 2nd episode fixed this a bit by mentioning the Silmarils and Morgoth stealing them.
2. I very much dislike unwise, militant Galadriel. That just flat out isn't her. It also made no sense for her to jump off a ship on the other side of the ocean with no possibility of swimming back. Either have her refuse to get on the ship, or have her cross the Helcaraxe again and leave Aman that way.
3. I very much liked the dwarves. The Hobbit and LotR badly mistreated dwarves by making them comic relief. This show got them right. I also didn't mind that the dwarven women didn't have beards. That would have been a hard sell to the masses.
4. I'm not sold on the Harfoot storyline, but how I end up feeling about it will depend on who and what The Stranger is.
5. The orc killed near the end of episode 2 was way to hard to kill. A dagger in the back didn't even phase it and then a bigger whatever that was through the back was only an issue because it hit things. They feel pain and are mortal.
6. I'm mixed at this point on the portrayal of the elves in general, but it's too early for final judgment there.