I think he'll still be in it in some capacity, be it a small scene showing him stalking Bilbo or a (less-likely) major scene. But whatever they do with him it'll probably still be good.
And I really wouldn't be surprised to see Aragorn, Arwin, Éomer or Théoden in it in some capacity. The first two especially. Since I've heard the third movie acts as more of a tie-in to the first trilogy it'll probably happen then.
04/11 -- Black Sabbath
04/24 -- Nile
Last edited by adamclark52; 12-16-2012 at 03:31 PM.