[Lotrelf]

You know what? I loved that scene. I read TH few days back and realized that scene in particular showed the real growth of Bilbo Baggins keeping his hobbit sense alive. Bilbo knew Thorin was wrong and in my opinion Thorin's attitude towards the treasure was not justified. Bilbo offering the Arkenstone to the Elf and Bard was more than understandable. He knew they were right (though I think Thranduil would be better off) and Thorin was taken over by greed. Him wanting to get away without letting anybody get hurt was noble, not treacherous.