Actually, I had a deck built around Bilbo/Wraiths once. It wasn't bad...unless they ran archery...at which point you were kinda hosed.
I too had such a deck and it took me several painful defeats to learn from a stupid mistake - Don't play
Swept Away if your opponent runs archery shadow. Since you are planning on making your wraiths
Back to the deck...
Swept Away is a great card for
Wraiths, but your deck has a different strategy and I don't think you need it. You might go with
Banner of the White Tree instead of
Elendil's Valor. Your Wraith might actually survive, although in that case you could use a copy or two of
Swept Away. For healing,
Might of Numenor is one of the best cards and I'd go with few copies of that. Also, who are you starting with? If you are not starting with Aragorn, you don't really need 2 copies of
Anduril, FotW. On that note, you might wanna switch to a more useful Aragorn, because you'll be making your wraiths defender + and then discard them with
Elessar's Edict, but you can't do the same with Aragorn. I'd take
Aragorn, CoG and switch Frodo to
Isildur, BoH. Isildur is good to start with
Oathbreaker because you can very often assign a weaker minion to Isildur and use his text to exert Oathbreakers. That way you'll have a strong Aragorn with healing capability and Aragorn signet. If you do make that change, you'll need some burden removal (a copy of
Bane of all Corruption Decks would suffice) and some threat removal (
Stronger and More Terrible might be ok, but
Hearts Raised seems better since you are not planning on winning many skirmishes).