He just came out and I already bought the expansion. Obviusly, he is made for secrecy/ hobbit decks, and works awsomly in them. If he is included in a 3 hero hobbit deck, then his starting threat becomes a 4! That's the lowest in the game, and if you are playing a saga with Bilbo or Frodo and you start as the first player, then he becomes a starting threat of 3! That means you can use 2 higher threat Hobbit heroes with him like Sam Gamgee or Tom Cotton.
His second ability seems quite good but I haven't had a chane to use it yet. It seems like it is supposed to be used so you can stay in secrecy. It acts similar to The Fall of Gil-Galad and is a profit in Hobbit decks considering that you start at 4 and discard him to reduce your threat by 7. A profit of -3 threat than if you didnt use a 3rd hero! Or a -1 profit if you didnt use 2 other hobbit heroes!