When he was the director, Guillermo spoke extensively on how he planned to handle Smaug. Some of his most in-depth comments were made right here on TORn: “Smaug should not be “the Dragon in the Hobbit movie” as if it was just “another” creature in a Bestiary. Smaug should be “The DRAGON” for all movies past and present. The shadow he cast and the greed he comes to embody- the “need to own” casts its long shadow and creates a thematic / dramatic continuity of sorts that articulates the story throughout.” It remains to be seen how much of the original, Del Toro influenced Smaug will make it into the movies.

Useful Links:
The Dragon Solution – GDT Shares his thoughts