Lots of good points here. I still think that The Hobbit is going to be a fun game.
As for Balcer leaving and it impacting the game I think everyone interested in the game should read Pinball Magazines interview with Joe Balcer below. During the interview Joe discusses The Hobbit playfield, how he wanted the game to have a wide open feel and put the shots along it's permitter. After reading the interview again it seems like his design is still intact.
http://www.pinball-magazine.com/?p=1449
From the interview
"I was looking for a wide-open feel, because of the movie. It’s based on the shire, so I initially wanted to put everything on the perimeter of the game layout and have more of a wide open feel to the shots and the game. Using different mechanisms within that area gives you targets to shoot at that are there one moment and gone the next. It gives it different levels without creating different levels, which I really like about this layout."