If your a Tolkien purist then I suggest you avoid this game. However if you have fifteen bucks burning a hole in your pocket and are at least curious you just might enjoy this.
You play Bilbo, a slightly more active hobbit then what was portrayed in the book. You'll follow the book for the most part and engage in side quests that help fill the game. The game is actually one of the harder platform games I played (mind you I'm no expert with these games).
High points of the game include the voice acting which is top-notch and fit the characters to a tee. The environments fully realized from the book: Hobbiton, The Halls of King Thranduil, Lake-Town and Erebor are all fun to explore. And the climax with the Battle of Five Armies is a great and satisfying ending. Also nicely done is the music and Chapter framing sequences.
The cons are few but notable including a sometimes difficult camera control and some really tough stages. This was rated E but for difficulty it should be a T.
All and all I liked it but would only play it once so buy it cheaply.