The first chapter is always such fun to read!
And I agree with Esty that the dwarves' song is the turning point in the chapter. I guess its effect on the reader is the same as on Bilbo. I am so glad that in the upcoming Hobbit movie they kept this song, and what I hear of it in the trailer even sounds quite appropriate to me!
I think Tolkien did well not to keep the dwarven magic in. The effect of "magic" is much greater when only used sparingly!
Though I haven't seen the annotated Hobbit, I read somewhere about the original names, and knew that "Gandalf" was one of the Dwarves. ("Gandalf" figures in fact in the "dvergatal" in the Völuspa)
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Yes! "wish-fulfilment dreams" we spin to cheat
our timid hearts, and ugly Fact defeat!
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