Script Finished and Bilbo Baggins Cast?

According to The One Ring, the Lord of the Rings actor Sir Ian McKellen (Gandalf) says the script is finished and he knows who has been cast to play the young Bilbo Baggins in the Hobbit movies. The information is from a source who said they spoke with the actor so no telling what reinterpretations have been added into mix.

From TheOneRing:

Then we received the following e-mail tonight from Ringer spy Olli from an all-night LOTR screening which seems to confirm everything we have been hearing and he was definitely not the source of our earlier rumors. He says, “Currently at the all night screening at the bfi IMAX, London of lotr. Ian McKellan dropped by earlier and revealed he is currently re-Reading the hobbit and is expecting to be back in NZ in march. App(arently) he also knows who they’re getting to play Bilbo & that he should be seeing the script within the next week. Well it’s 3:30am – TTT is about to begin so bye!”