I finally saw a little bit of this at our TRU this weekend, just the single carded figures (2 pegs), and sort of hidden in the middle of all the NECA/etc. stuff aisle. I had already gotten an order from TRU.com, but ended up picking up Grinnah, which I think is the only "normal sized" figure I didn't already have. Has there been any word if there will be further waves prior to the next movie, or are they really spreading this out? I don't recall seeing pics of anything further.
Also, to echo what many have said, this is just a really nice line overall. I could see where some would say Bilbo is the weak link, but the majority of the figures are pretty nicely done. Plus, I think it is just fun to have Tolkien figures in this scale (really hoping Bridge Direct gets the license for LOTR). I still haven't completely decided if I'm "all in" or not, but it is getting tempting - and really I'm only missing a few things at this point, so we'll see.