I ran a my first session of Fellowship 2n Ed recently and setup was good and everyone is excited to play. There where a couple of things we stumbled on during setup:
1. It's very unclear who "The Squires" people are that they are supposed to be creating facts about. It's also tricky for the Squire to answer why they are in the Fellowship unless they go last.
2. The rules state that Bonds can be created with any named character but the Fellowship Playbooks states bonds should be made with Fellowship members.
3. The Quickstart reference guide is Group Questions > Bonds > Rumours but Guided Establishment steps go Group Questions > Overlord Bonds > Rumours > Fellowship Bonds.