The Hobbit

I just finished reading The Hobbit today. Now, I will give you my expert review, which you will read, spellbound, because of my brilliance.
Best Book Ever!!!!!!!!!!!!!!!!!!!
Thank you.
Bilbo Baggins, a very memorable character indeed. He doesn't know his own strength (he weeps when Gandalf says he will be leaving the quest), and yet he recues the dwarves from giant spiders and angry woodelves, burglarizes Smaug the dragon, discover's his only weak spot, and then negotiates between the man and elves and Thorin.
The two problems that I saw were:
Their being helped by luck over and over again. Bilbo was "born with a good share of it," but the motif just seemed overdone. (Besides, I don't believe in luck.)
And,
A dragging ending. However, an amazing piece of work.

UPDATE:
I found something interesting about the structure of this story. I'm not going to expect Tolkien's work to fall under all of our modern theory and conventions (so it's probably not the best to study plot with, but oh well), but he does use the Three Act Structure. He does not however use Three Disasters. (The second disaster is usually used to prevent the 'sagging middle.') In Act II, there are two disasters: They are captured by goblins, and then they get lost in Mirkwood, and are captured by the Wood-elves.
But it still works.