This Card-Review article was written by Trek Barnes and was published first on "Lord of the Rings Online (lotrtcg.decipher.com)".
"'Could you find anything fit for a hungry hobbit?'"
So, you've got this odd looking, strength 3 companion hanging around. What can you do with him? The key to using Old Noser isn't winning skirmishes with him. That's not going to happen, unless Frodo has Sting and you are willing to exhaust him.
So, that said, what good is he? The double move. He can conceivably put up to four wounds on opposing minions, and that's before you have to decide. Combine that with Aragorn, Wingfoot, or Forests of Lothlorien and you can clear the board of the Cave Troll or the Witch King.
His ability is costly, however. Two exertions is a lot, especially as your other companions (that can fight) are getting banged up as well (because using his ability is not so necessary if you're constantly winning skirmishes, right?). There are a few options to get around this. One is to include extra copies to heal him. If you are going to do that, I recommend Be Back Soon instead, letting you "toss" Smeagol at a big minion, and him not dying. Then you can replay him the next turn, like a twisted unbound Hobbit.
There are a few other uses of Smeagol's special ability that are a bit more eccentric and combo related. The key is that he lets you place the cards beneath your deck in any order.
That's very useful for two cards in particular:Beren and Luthien, which lets you make minions Strength -1 if there are Elf cards beneath your draw deck, and more importantly The Underdeeps of Moria. That lets you reveal the bottom card of your deck for three twilight, and if it's a Moria orc, put it in your hand. Swarming just got (a little) easier!