This is another card that I underestimated the effectiveness of. Obviously, 1 for 1 cost is always great. Many other allies share this trait such as Erebor Record Keeper, Galadhrim Weaver, Henamarth Riversong, Messenger Raven, Scheming Staddler, and Westfold Horse-breeder. All of these also have great abilities. Dwarven Sellsword, Misty Mountain Journeyman, and Silvan Refugee all go farther with 2 for 1 cost. (Although, they all have added restrictions to compensate.) So the stats are great and lie within established allies.
The ability though is what surprised me as for how good it is. Enemies get +5 engagement cost during the round that Young Tom enters play. Yeah, whatever. Not so exciting, right? WRONG! Anybody who has used Pippin in a hobbit deck can tell you how clutch the +3 (or +4 in Bond of Friendship decks) engagement cost per enemy can be! The entire hobbit archetype revolves around having an threat lower than enemy engagement costs. Especially useful in hobbit decks which start at a much higher threat.
The ability is great not only in hobbit decks though. +5 engagement cost for every enemy? Maybe that enemy you weren't prepared for can stay in the staging area this round. Maybe you are using a card that only works when you optionally engage an enemy (such as Captain of Gondor)? Young Tom helps with that. Want to get +2 on ally Boromir? Young Tom is your friend. Also good for Hobbit Cloak, Staff of Lebethron, Sam Gamgee, ally Pippin, and many others.
I will say that the +5 engagement cost is only active for the round that he enters play (which is perfectly fine considering his cost), but this can be rectified using a card in the same pack: Lily Cotton! She can let you get another action out of him, and then send him back to your hand to play again next round for another +5 engagement cost. Also, Tom Cotton gives him +2 when he enters play. Very thematic, I must say. I think that Lily is Young Tom's mom, Tom Cotton is his dad, Rosie Cotton is his sister, and Sam Gamgee is his brother-in-law. Props if you can get the entire family into play (and Sam's family for bonus points).