Legacy of Durin is a card that I think is overpowered, but not broken enough to receive an errata. For one lore resource, you should be drawing at least one card from this per round in the right deck. At least you don't get a card whenever you put a dwarf into play, or Legacy would be heading down the limit once per round express. This is a very powerful card and a staple for Dwarf decks.

Short Cut has the potential to be a very powerful card, but the reliability that a location would pop up that you want to say no to is rare. There are a couple silver bullet locations that completely take apart some decks or are in general just terrible, so running this just for insurance might be helpful. Cancelling an entire card is a powerful effect, and few cards do it, so if you're bringing Hobbits to a multiplayer game, consider Short Cut.

Elrond's Counsel is one of the best threat reduction effects in the game. It costs zero and the little willpower boost is always helpful. The fact that you must control a unique Noldor character can be a slight problem, but the pure efficiency of Elrond's Counsel more than makes up for the extra deck construction.

Arwen Undomiel is an incredibly powerful ally. Two resources for two willpower, an extra hit point, and a very good ability all wrapped into one Magali V. masterpiece. I suppose the only downside to Arwen is that you can't also play the incredibly powerful hero Arwen, but uniquness conflicts are what the game is all about, right?

Rivendell Bow is effectively one of two things: 1) a less expensive Dunedain Cache that only attaches to certain characters or 2) for characters like Legolas or Haldir, a non-restricted attack boost. So while Rivendell Bow may not be the strongest weapon on the block, it is certainly a very good one.