Tom Bombadil Character Analyis

J.R.R.Tolkien said in his letters;
"Tom Bombadil is not an important person -- to the narrative. I suppose he has some importance as a 'comment.' I mean, I do not really write like that: he is just an invention (who first appeared in The Oxford Magazine about 1933), and he represents something that I feel important, though I would not be prepared to analyze the feeling precisely. I would not, however, have left him in, if he did not have some kind of function."
"I might put it this way. The story is cast in terms of a good side, and a bad side, beauty against ruthless ugliness, tyranny against kingship, moderated freedom with consent against compulsion that has long lost any object save mere power, and so on; but both sides in some degree, conservative or destructive, want a measure of control. But if you have, as it were, taken 'a vow of poverty', renounced control, and take your delight in things for themselves without reference to yourself, watching, observing, and to some extent knowing, then the questions of the rights and wrongs of power and control might become utterly meaningless to you, and the means of power quite valueless... 
"It is a natural pacifist view, which always arises in the mind when there is a war... the view of Rivendell seems to be that it is an excellent thing to have represented, but that there are in fact things with which it cannot cope; and upon which its existence nonetheless depends. Ultimately only the victory of the West will allow Bombadil to continue, or even to survive. Nothing would be left for him in the world of Sauron."


The opinions of Toms part to play vary widely, I'm posting this just out of curiosity, as to who has read the book (rather than just watching the film!), and what you believe Tom's purpose is.
When i first read the book i thought he played the part of the reader.. untouched and unaffected by the world passing him by... hence distanced (as the reader) and metaphorically able to put the book down at anytime.
I know from Tolkiens letters, that he believes that Tom represents the "spirit of the (vanishing) Oxford and Berkshire countryside." further realized in the obvious inspiration of the Barrows of Barrow-wight by the historical burial mounds on the Berkshire downs near Oxford.
Though perhaps it is understandable that people would hold to the believe that Tom represnts some form of eternal maker. Golberry his mate simply states "he is" mirroring God's description of himself in Moses Exodus3: "Tell them 'I am' sent you". Elrond calls Tom the oldest and fatherless, perhaps suggesting a creator, and surely Toms childish twisted nature is similar to a Gods twisted sense of humour.

All this to ask your opinion... lol  
Well i hope you'll endulge my nonsense, and perhaps even post a intelligent and witty reply