The juggernaut that was Peter Jackson's The Lord of the Rings it seems has been let out once again with 2 films based around the Hobbit. We have a little wait to come of course, but with the leaps that were made in CGland with the Trilogy, will they pull out even more for us a few years on. The enormous praise that the Trilogy (esp the Return of the King) received has got to set the bar mighty high for these films, but if they can repeat that magic we are in for a treat.
The Hobbit Blog doesnt have too much info apart from the 'press release'.
It is interesting to see giant franchises like Star Wars and now LoTR having the sequels go back in time. There's more info to be had at IMDB, TheOneRing and such - though not much more.