Leaf, I've read what you said here:
However, I don't think the chase sequence at the end of the second film was 'purely' there to pad out the running time. It had a function in the context of the movies. It was invented so that the end of the second film wouldn't feel as anticlimactic as it would have otherwise. It's questionable if it did the job well, but it had a purpose.
You're probably right about the function of the chase sequence. However, it was, in my view, a complete failure.

It would have been best to have ended the second film with the death of Smaug; the third film would then have nicely opened with dealing with the consequences of his death, showing that this did not automatically lead to a 'happily ever after'. This struck me when I first read the book, and still does; but Jackson and others couldn't get that right...