It's interesting to see how the character of Bilbo changes between the original
and revised versions of the chapter. I found the original Bilbo
much less sympathetic than the revised Bilbo. He conceals the Ring from
Gollum and compels Gollum to risk his life by showing him the way out.
The revised Bilbo keeps his end of the riddle deal, has empathy for the
miserable Gollum, and deliberately decides to spare Gollum's life when given
the chance to kill him with little or no risk -- althgether more noble actions.
The original Gollum, on the other hand, is a much less sinister figure than the
revised Gollum. He's more honest than Bilbo and keeps his promises even at
personal cost. I found him less believable than the wily and suspicious
Gollum of the revised Hobbit, though perhaps the idea of Gollum's treachery is
so firmly ingrained that it's difficult for me to think of him any other
way!
The pity of Bilbo could screw up the fate of many.
