Discuss: The Hobbit (the book)

Karen: Since the film is out, let's discuss the book (and let's stick with just this book, and save Tolkien's other works for later posts). I first  read The Hobbit when I was about ten years old. It was yet another book I was introduced to by my older brother. It was the first real fantasy book I'd ever read and opened the doors to a lot of others. I'll always consider The Hobbit to be the icon, the one that set the standards and conventions of fantasy fiction for the decades to come (and you can argue whether that was for good or ill). I still try to read it every few years, and I still enjoy it.