From "Inside Information."

Bilbo has entered the tunnel to Smaug's cave and can hear a "vast animal" snoring. It has also grown hot in the tunnel.

It was at this point that Bilbo stopped. Going on from there was the bravest thing he ever did. The tremendous things that happened afterwards were nothing compared to it. He fought the real battle alone, before he ever saw the vast danger that lay in wait.

Now it is a strange thing, but things that are good to have and days that are good to spend are soon told about, and not much to listen to; while things that are uncomfortable, palpitating, and even gruesome, may make a good tale and take a deal of telling anyway.

Ahhh, both the ones already posted are two of my favorites as well! But here are two others that I really liked too:

"Where did you go, if I may ask?" said Thorin to Gandulf as they rode along.
"To look ahead," said he.
"And what brought you back in the nick of time?"
"Looking behind," said he.

(Chapter 2)

This next one I thought was SOOO sweet and I just loved it:

"There is a long road yet," said Gandulf
"But it is the last road," said Bilbo

(Chapter 19)

It does not do to leave a live dragon out of your calculations if you live near him.

Never laugh at live dragons

My favorite quote from the book:

So comes snow after fire, and even dragons have their endings

~Riella

One of my favorite scenes is the one where Bilbo and Thorin take farewell. It's a bit long to quote here - but that whole scene is so touching. It's good to see that Thorin has become free of his greedy dragon sickness at last.