Here's what we can glean from Tolkien's writing:
* Bilbo:
* Initially: He's seen as eccentric, a bit odd, and perhaps slightly "touched" by his adventures. This is evident in the way people whisper about him and his "riddles" and "adventures."
* After the party: After his departure and the revelation of his vast wealth, there's a sense of awe and admiration for him. However, there's also a lingering unease about his strange habits and behavior, like disappearing into the woods and his "changes."
* Overall: People generally respect him as a great hobbit with a fascinating past, but some find him a little unsettling.
* Frodo:
* Initially: He's generally regarded as a kind and gentle hobbit, but also a bit quiet and prone to brooding. Some see him as "too serious" for his age.
* After the Ring's arrival: There's a growing sense of worry about Frodo's increasing withdrawal, his gaunt appearance, and his strange preoccupation with the Ring. The events of the journey are a source of great anxiety for his neighbors, and they worry for him, even if they don't fully understand what's going on.
* Overall: People care for Frodo and miss his former self, but they find him increasingly difficult to understand and interact with after he takes possession of the Ring.
Importantly: Tolkien doesn't explicitly state a "general consensus" in the Shire. Instead, he shows us a range of reactions and opinions, mirroring the complexity of human (or hobbit) psychology and social dynamics.
To summarize:
* Bilbo is generally respected but also seen as strange and different.
* Frodo is generally loved and cared for but also seen as withdrawn and mysterious.
Their state of mind is ultimately a matter of individual interpretation, influenced by their experiences and the nature of the Ring.