Who Should Play Bilbo Baggins?

Any Tolkien fans here? I love Lord of the Rings, I love the story and the fact that it was filmed in New Zealand by Peter Jackson. And I am glad I finished reading all the books first before I got into the films. I had the Fellowship of the Ring for about 3 years before I finally finished reading it. It was very hard for me to read it and understand it. But when I did finally finish reading it, I couldn't wait to get the other two books. It took me just under 2 months to finish reading the Two Towers and the Return of the King.

I still haven't read The Hobbit, but I will. As for the movie, I won't get too excited about it until I get info on this. Who should play Bilbo Baggins? Total Film has nominated a few. My picks are Ewan McGregor and John McAvoy. I think Bilbo has to be played by an non-American actor. I don't know where they are shooting it, but it would be super awesome for the filming to take place in New Zealand once again.

Your thoughts?