Everybody's favorite burglar has become quite the pet card for me. He certainly needs some help to function (like Hobbit Pony, Pippin or Fastred), however when utilized correctly, he is a very good quester with some decent direct damage to boot and one of my favorite ways to free up guarded cards.
I also really like him for his jank potential - you are able for instance to commit and trigger him, than uncommit him through Elevenses or Don't Be Hasty! before recommitting him through Hobbit Pony or Late Adventurer and thus triggering him again, getting double willpower and damage. He is definitely still only an average hero, with his high starting threat and need to be set up holding him back from a higher rating, but I find Bilbo Baggins overall quite useful in the right deck, not to mention being bags of fun.
Rating: 5/10
Decks of mine using Bilbo Baggins