Oh, he'd make a fine hobbit. But Bilbo's supposed to be quite a bit younger in The Hobbit, isn't he? (I think he and Frodo were the same age when they ended up adventuring, though in this case it actually made Frodo relatively old because there's a 17-year gap between Bilbo's birthday party and Gandalf figuring out just what that ring he had was. They left that gap out of the movie, which is fine by me.)