Martin Freeman runs through the Shire as Bilbo Baggins in this new still from The Hobbit: An Unexpected Journey, presumably from that pig, who seems to be dressed as Bane from The Dark Knight Rises, so I assume he's the villain (Middle Earth's oinkening? I'm sorry, I'll stop).
The Hobbit will be split into three parts. The first two parts, An Unexpected Journey and The Desolation of Smaug have already been shot and will be released on December 14, 2012 and December 13, 2013, respectively. The third part, There and Back Again (originally the title of the second film), is expected to be released July 18, 2014.