The detail is brilliant, the texture of the jacket,shirt and vest are all quite exquisite. Bilbo's hair is light and smooth - just as it is in the film (can't say 'real life' can I). I would say however, that the hand in the foreground looks a little... well it looks like it's been done on a separate layer entirely to the rest of it (like you've drawn over everything else). It's sometimes a problem when it comes to digital paintings but, other than that I do believe this is quite a brilliant piece.
The image is clear, you can tell what scene it's from - even if you haven't seen the film. The detail gives it vitality and the lighting gives it a life of its own.