Most definitley!
Tolkien's life had a major impact upon his writing, and in particular his experiences in the war. I believe The Lord of the Rings is so brilliant because Tolkien poured into it his very heart and soul - bringing the world of Middle Earth, and each and every character to life.
C.S. Lewis and Tolkien were exceptionally talented with writing and they agreed after the War that they should both write stories of their own worlds, and what a perfect world would be to them. I believe that The Shire was Tolkiens perfect world and this is where The Hobbit derrived from of course.
Although many people feel strongly about Hobbits, and their attitudes to life, I believe Tolkien reflected his ideas of perfect people within the Hobbits, and in order to make them so much more realistic, they did of course have to possess flaws - without which, the realism would not be so great!
