Well, if John Watson and Bilbo Baggins were both written exactly the same, I suppose it wouldn't be a problem. But the two could scarcely be more different.
Well its up to Mr Jackson to direct him properly then. I suspect he will and I suspect all this criticism will be unfounded. Peter Jackson is not only a great visionary director but he has proven more than capable of directing actors. Michael Bay, he is definitely not.
I would assume that the delays with this project has meant Freeman now being available...? I read that he originally couldn't take the part due to his Sherlock Holmes committments....
However, I think this is good casting. I can picture the reluctant Bilbo right now. I think Freeman will play it well.
The one thing I do wonder about is his voice. Unless he does a 'voice', I can't yet picture him as Bilbo using his own natural voice.
You didn't get the fact that it's many years later, the wizard Gandalf is not with them, Sauron is now far more powerful, and is actively hunting Frodo and the Ring using his most terrifying and powerful agents?