(Woo hoo) in 2009 and Peter Jackson and Fran Walsh are going to produce it! I wonder who will direct it? There have been rumours that Sam Raimi will do it.
The other good news is that there were will another film also, which has not yet been named. I would be on cloud 9 if they did the Lays of Beleriand or The Silmarillion.
Did I mention I was a Lord of the Rings/Tolkien fan?!