Er, no. He found it lying on the ground. Only when Gollum was trying to kill him did Bilbo realize it was G's ring.
As for Peter Jackson, (almost?) every scene he added to LOTR was embarassing. It's still hard to believe that Aragorn went over that cliff and was awakened by his horse licking his face, like a scene from Hidalgo bizarrely stuck into the middle of LOTR. The Aragorn-as-reluctant-hero-pussy was a complete fabrication, and the lengthy special effects jumping-over-the-chasm in Moria was simply an excuse to do CGI.
If they cut out all the crap that was ADDED, there would have been time for more of the things they deleted.
Well, he did steal Thorins treasure. I wonder if that'll be cut in favor of the upcoming massive battle scene. CGI actors work for cheap, and dont get overtime.