"Runes and the English letter values assigned to them by Tolkien, used in several of his original illustrations and designs for The Hobbit." - These are the normal values for Anglo-Saxon runes, and not at all what Tolkien used for Dwarvish - he mixed them all up!
This quote is perfectly delivered in timing and by character.and in context of the film's transpired events on such an epic scale - so valuable! Love it! Bilbo might be an unfortunate name but he is a gem of a character - heart warming.