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Here is a review of the entire Hobbit/LOR saga that has some interesting thoughts.

http://www.nybooks.com/articles/9988

In relation to the Hobbit in particular:

Much is made of the comfort of the hobbits' home life: the cosy fireside, the lovely food--raspberry jam, apple tart, cold chicken, and pickles. The terrors of Mirkwood and the Misty Mountains are set off by the wholesome pleasures of the Shire. The tale begins with Bilbo smoking his pipe and ends with him reaching for his tobacco jar. Food and tobacco can be used and enjoyed; but owning things for owning's sake is the sickness of the dragon who sits on his mound of treasure.

Is this the lesson to learn from the Hobbit? Enjoy things for the pleasure they can give you, but do not own things for the sake of owning them? What other lessons are there in the Hobbit?
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