•Dwalin, Generous Dwarf
Companion • Dwarf
Strength: 6
Vitality: 3
Signet: Thorin
When you play Dwalin, you may play a possession from your draw deck.
Fellowship or Maneuver: Add to transfer a possession borne by a Dwarf to another eligible companion.
“‘You will have to manage without pocket-handkerchiefs, and a good many other things, before you get to the journey’s end. As for a hat, I have got a spare hood and cloak in my luggage.’”

•Gandalf, Tharkûn
Companion • Wizard
Strength: 7
Vitality: 4
Signet: Thorin
While you can spot a Dwarf and another Free Peoples culture, Gandalf’s twilight cost is -1.
Regroup: Spot three Free Peoples cultures and exert Gandalf to make the move limit +1 (limit once per turn).
“He had not had many dealings with the Dwarves; though he was a friend to those of good will, and liked well the exiles of Durin’s Folk who lived in the West.”

Dwarf Cloak
Possession • Cloak
To play, spot a Dwarf. Bearer must be a Dwarf or Hobbit.
Bearer may not have their strength or vitality reduced by weather conditions.
“...Bilbo was wearing a dark-green hood (a little weather-stained) and a dark-green cloak borrowed from Dwalin.”

You need to add ’(except in your starting fellowship)’ to his first ability. Other than that, awesome!

Yikes! Regroup ability is very powerful, and I think it should have a slight bonus to the Shadow player when it is activated (e.g. ’Each Shadow player may take a card into hand from his or her discard pile.’)

Pretty much useless at the moment, but once you reveal your new weather conditions I could change my mind.

•More Than A Thunderstorm
Condition
Weather. To play, exert a minion. Plays on a mountain or river site.
At the start of each phase while the fellowship is at this site, the Free Peoples player must add a burden or exert a companion.
Discard this condition at the end of the turn.
“Then came a wind and a rain, and the wind whipped the rain and the hail about in every direction, so that an overhanging rock was no protection at all.”

Here, if I understand the rules correctly, you can choose to exert a companion with a Dwarf Cloak, and then the cloak’s text would trigger and cancel that exertion. Am I correct, or does the cloak (or this condition) need some rewording?
No, reducing vitality would be like Citadel of the Stars. Not the same as a wound or exertion. This is a very powerful card, like Cruel Caradhras times like five-seven (depending on if you have fierce skirmishes). Hmm...
•The Nights Were The Worst [Mirkwood]
Condition
Weather. To play, exert a [Mirkwood] minion. Plays on a forest, mountain, or underground site.
When the fellowship moves from this site, each non-ranger and non-[Mirkwood] companion must exert.
Discard this condition at the end of the turn.
“It then became pitch-dark - not what you call pitch-dark, but really pitch; so black that you really could see nothing. Bilbo tried flapping his hand in front of his nose, but he could not see it at all.”
Very nice.
Again, wording all fit okay?

Cold and Wet
Condition
Weather. To play, spot a weather condition and exert an minion. Plays on a site.
Each companion at this site who does not bear a cloak is strength -1.
Discard this condition at the end of the turn.
“Everything seemed gloomy, for the weather that day had taken a nasty turn....it was pouring with rain, and had been all day; his hood was dripping into his eyes, his cloak was full of water; the pony was tired and stumbled on stones; the others were too grumpy to talk.”
Very good, I think.
This one is a little more explicit, since most cloaks don’t specifically mention weather immunity.

There’s half a dozen more in Lasting Alliances alone, and others dotted throughout my other sets. Are these balanced?

No, reducing vitality would be like Citadel of the Stars. Not the same as a wound or exertion. This is a very powerful card, like Cruel Caradhras times like five-seven (depending on if you have fierce skirmishes). Hmm...

More Than a Thunderstorm is really powerful, but this is good.

Dwarf Cloak looks good, although I’d advise some sort of spotting requirement. Ooh, how about "Spot 3 dwarves"? After all, a lone Dwarf Cloak and bearer won’t be able to endure everything.