I'm already preparing myself for the movie to come out next year and even though I already read Hobbit 10-12 years ago, it was time to read it again.
I realized this after I started reading and noticed that the only things I remembered from the first time was that there were Bilbo and Gandalf, trolls, dwarves, Gollum and the ring and a dragon. I managed to forget every single detail.
All together it's a nice, light introduction into what is to come next. So much so that I kept wondering how in the world did the Hobbit author manage to evolve that world so much to come up with the rest later. Although it seems LotR was written at almost the same time (or very soon after).
This just proves I will need to read LotR again soon. :)
Anyway, The Hobbit is a fantasy story of a quest to which Bilbo only reluctantly agrees to (as their resident burglar) and the dwarves and Bilbo have all sorts of extraordinary adventures from which he returns changed (and richer).
We also learn of the goodness and resilience the hobbits display and it's easy to agree with their matter-of-fact world view (at least I hope so, I don't think some would be as generous of both spirit and material things as Bilbo is).
There is one thing about Hobbit though, although not as strongly presented, that is a continuing feature of all Tolkien work (I've read so far) - there is always a tragic part to the story.
Which makes me wonder what will they do about that in the movie...?